Strong demand for oilseed rape in Europe has seen futures prices rise above €500/t in recent days due to tight supply. The picture shows a 3,000t ship being loaded at Drogheda port for Drummonds last weekend with a cargo of oilseed rape destined for the UK.
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The tight global oilseeds market sees high soya bean prices pull up others in the oilseeds complex and oilseed rape is no exception.
Rape that had traded between €380/t and €390/t for the current market slots through most of last year is now trading either side of €500/t as a consequence of tight supplies.
Markets in tight supply have opened up an opportunity for exports from Ireland at price levels that make sense for growers and merchants.
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One such shipment of 3,000t was loaded over last weekend by Drummonds and when the ship sailed on Tuesday morning it was destined for the UK for crushing.
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The tight global oilseeds market sees high soya bean prices pull up others in the oilseeds complex and oilseed rape is no exception.
Rape that had traded between €380/t and €390/t for the current market slots through most of last year is now trading either side of €500/t as a consequence of tight supplies.
Markets in tight supply have opened up an opportunity for exports from Ireland at price levels that make sense for growers and merchants.
One such shipment of 3,000t was loaded over last weekend by Drummonds and when the ship sailed on Tuesday morning it was destined for the UK for crushing.
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