EU rapeseed and rapeseed oil prices continued to rise through the Mar-May ‘22 quarter, with the three-month average prices increasing by 16% and 23% quarter-on-quarter (q-o-q), to EUR 805/MT and EUR 1,869/MT, respectively. This was due to sustained demand and a decline in global production, despite an estimated increase in EU rapeseed production for the 2021/22 marketing year (MY). The price rally in the wider vegetable oil complex continued to support EU rapeseed and rapeseed oil prices.
In the Mar-May ‘22 quarter, the average Canadian rapeseed price increased by 10% q-o-q, to CAD 1,098/MT, primarily driven by tight domestic supply and strong global demand. The Canadian rapeseed oil price also jumped by 19% q-o-q, to CAD 2,672/MT due to comparatively lower yields from reduced rapeseed production estimates for the 2021/22 MY, amid a price rally in the wider vegetable oil complex due to the Russia-Ukraine war.
From economical to political, all the factors impacting the rapeseed and rapeseed oil markets have been analysed to provide a market outlook for the next three months. Mintec’s market outlooks (schedule) provide insights on factors shaping the market dynamics of various commodities, providing the opportunity for market participants to stay ahead of factors that will impact procurement decisions. Please visit our Mintec Analytics platform to find out more.
