UFOP: rapeseed is hard to trade in Germany right now
Germany’s Union for the Promotion of Oil and Protein Plants e.V. (UFOP) recently stated that although rapeseed is in short supply on the global market, in Germany it is currently difficult to trade. Oil mills stocked up well during harvest and are now only calling forward contract material. They cover peak demand sporadically on the spot market. However, peak demand has occurred very rarely over the current business year, because processing volumes have been moderate. Because of tight calculations based on low rapeseed oil prices, processors are not willing to accept the prices asked. Making reference to the scarcity of supply, German suppliers are asking for a markup on the contract prices quoted at the futures exchange.