Prices up again on rapeseed oil

Refined rapeseed oil prices rose sharply last week, following gains in competing

vegetable oil markets (except for sunflower oil) and a

continued recovery in rapeseed prices following talk of crop

losses in Canada and concerns over world rapeseed supplies.

Some additional support is coming from continued strong EU

export and domestic demand with the many major refiners

now well sold through to August-September as rapeseed

prices remain competitive in the market. Biodiesel demand

remains strong and is supporting the rapeseed, soyoil and

animal fat markets across Europe (all products are used in

biodiesel production/mixing) and crude (mineral) oil markets

are still firm but there are questions over the impact of an

increase in production following a recent OPEC meeting.