EU Rapemeal Values Decline Further
30/07/13 -- Rapemeal prices on the continent are lower once again. As nearby July comes into line with new crop, prices there have fallen EUR40/tonne in a week. Nov/Jan is down EUR20/tonne versus last Tuesday.
Oil World have increased their forecast for the EU rapeseed crop to 20.5 MMT. German output is estimated up almost 21% to 5.8 MMT, with production in Poland expected to jump more than 26% to 2.4 MMT, demoting the UK into 4th place in the EU rapeseed production table.
Latest guide prices for EU rapemeal today, basis FOB Lower Rhine in euros/metric tonne, with change from previous trading session:
| LH Jul13 |
220.00
|
-5.00
|
| Aug13 |
210.00
|
-2.00
|
| Sep13 |
207.00
|
-1.00
|
| Oct13 |
204.00
|
-2.00
|
| Nov13/Jan14 |
194.00
|
-6.00
|
| Feb/Apr14 |
192.00
|
-5.00
|
| May/Jul14 |
190.00
|
-5.00
|
| Aug/Oct14 |
180.00
|
-4.00
|