Price of rapeseed will remain high Australian experts say

The Australian experts say that the high prices of the rapeseed and the rapeseed oil will remain stable until end of this year.

 

Prices will probably remain the same because of the deficit of the rapeseed on the global markets. Producers like Canada and some European countries suffer difficulties in growing it due to unsuitable atmospheric conditions.

 

 This year, Australia will make a big profit from the rapeseed production. Rain came too late in Europe to save the crops, Canada on the other hand had too much humidity to have high yield. In China, rapeseed crops lessen due to many farmers preferring to grow corn and cotton instead of rapeseed.

 

World rapeseed production decreases for the second year in a raw. Experts forecast that the global yield will decrease by 2,3 million tons in 2011/2012, only because of the production decrease.

 

The rapeseed stockpile will drop with 2,6 million tons compared to the stockpile in the end of 2010/11.

 

Source: Zarnoborsa.com