The rally in rapeseed prices in Paris has also reached the German spot market and drove producer prices.
For this reason, many farmers have marketed their remaining stocks over the past two weeks.
Considering the difficult overall environment, the Union zur Förderung von Oel- und Proteinpflanzen (UFOP) sees the development of prices as a glimmer of light for arable farmers.
Rapeseed prices in Germany surged considerably over the past fortnight in the wake of very firm forward prices in Paris. Prices exceeding €415 per tonne led to the highest rapeseed prices since January 2020 in the German spot market.
According to research conducted by Agrarmarkt Informations-Gesellschaf, bids for rapeseed amounted to €370 to €400 per tonne ex farm in calendar week 47. This was up on average €9 per tonne on the year and as much as €25 per tonne compared to two years earlier. In some cases, the mark of €406 per tonne was reached in drop shipping.
The higher price levels induced many producers to sell stocks in the past two weeks. As a result, stocks were largely cleared in some regions with only remaining quantities left in storage.
Since contract business was also brisk with comparatively high prices, there have already been sales of rapeseed from the 2021 crop. Sales activities were also fuelled by memories of the price slide that started in January 2020.
At the time, rapeseed plunged 16% within two months. Many producers wanted to forestall this potential development by marketing their rapeseed early enough.
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