Rapeseed Oil Prices Trend | Pricing | News | Database | Chart

North America

In the third quarter of 2024, North America’s rapeseed oil market faced a complex set of challenges shaped by global and regional dynamics. While the European market experienced a notable price surge, North America observed a more moderate trend. Supply chain disruptions, rising energy costs, and logistical delays impacted the market, but stable domestic production helped mitigate these effects. Early in the quarter, rapeseed oil prices rose sharply due to heightened demand from end-user sectors and global supply chain issues, which increased shipping costs and extended lead times. Suppliers, benefiting from moderate inventories, raised prices to capitalize on arbitrage opportunities. Currency fluctuations, particularly the depreciation of the U.S. dollar, further fueled this upward trend through August. However, by September, a significant price drop occurred, marking an overall downward trend for the quarter. Weakened global demand for U.S. rapeseed oil, combined with increased competition from alternative oils like soybean and palm oil, contributed to the decline. Economic uncertainties and inflation in key importing regions further dampened demand, with buyers opting for more competitively priced alternatives. By the end of the quarter, North American rapeseed oil prices stabilized at around USD 1,187 per metric ton, reflecting a modest decline from the previous quarter.

Asia Pacific

In the third quarter of 2024, the Asia Pacific (APAC) region witnessed a notable surge in rapeseed oil prices, with India experiencing the most significant changes. Market dynamics were primarily influenced by supply constraints, heightened demand from key industries, and increased import costs due to currency devaluation. Tight supply conditions, coupled with robust demand, led to aggressive inventory building by stockists, further exacerbating price pressures. Rising energy costs impacting production, delays in processing, and escalating freight expenses also contributed to overall price escalations. The agricultural sector’s inability to immediately match the sudden spike in demand created a short-term supply crunch, and the resulting impact trickled down to consumers. Manufacturers, faced with higher procurement costs and limited import options, passed these expenses on to end-users. Retail prices for rapeseed oil consequently saw a significant increase. This price rise highlighted the supply-demand imbalance favoring domestic production, a direct consequence of government policy decisions to hike import duties on edible oils. Overall, the quarter recorded a substantial 13% increase from the previous quarter. By the end of the period, prices stood at USD 1,634.69 per metric ton of rapeseed oil (Ex Jaipur, India), reflecting a continuously positive pricing trend throughout the quarter.

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Europe

In the third quarter of 2024, the European rapeseed oil market experienced a notable downturn due to several interconnected factors. Initially, July saw a surge in prices, particularly in Germany, driven by heightened purchasing activity and increased export demand. However, weather disruptions in key producing regions such as France, Germany, Poland, and Ukraine negatively affected winter rapeseed crops, reducing yields and market availability, which contributed to the price rise. As August commenced, the market shifted towards a significant downward trend, persisting until the latter weeks of September. This decline was driven by weakened demand from end-users, who adopted a more cautious approach to procurement amid ongoing market uncertainties. Despite adequate global supply levels, trading activity diminished, and preferences among manufacturers and suppliers began to shift toward alternative edible oils, further exerting downward pressure on rapeseed oil prices. By the end of the quarter, prices had dropped significantly, closing at USD 1,030 per metric ton (FOB Hamburg). This trend highlighted the complex interplay of economic dynamics, currency fluctuations, and agricultural conditions, creating challenges for the rapeseed oil supply chain. The overall sentiment in Germany reflected a bearish pricing environment, with continuous price declines throughout the quarter. This period underscored the need for adaptive strategies to navigate the volatile market landscape.

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