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.