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Coronavirus-related demand weakness across the wider vegetable oil complex, and market
participants delaying purchases to take advantage of supply from the upcoming marketing year
caused the European rapeseed price to decline in June. The average price of Euronext rapeseed
reached EUR 512/MT in June, up 35% y-o-y but down 3% m-o-m.
The Canadian rapeseed market trended upwards in June as drought in the Canadian Prairies caused
supply uncertainty. The June average price of Canadian rapeseed reached CAD 742/MT, up 57% y-o-y
and 2.4% m-o-m.
The European rapeseed oil market followed the trend in the EU rapeseed market, falling slightly in
June as demand slowed. The average price of EU rapeseed oil was up 45% y-o-y but down 3.1% m-om,
at EUR 1,099/MT.
Canadian rapeseed oil prices moved lower in line with demand weakness in the wider vegetable oil
sector due to coronavirus related concerns and lower biofuel blending requirements in the US having
knock-on effects for the rest of the global market. The June average price of Canadian rapeseed oil
was up 91% y-o-y but down 2.9% m-o-m, at CAD 1,954/MT.