Rapeseed Prices Surge on Euronext Paris Exchange Amid Rising Oil Costs

Rapeseed futures prices have surged in Paris, supporting prices in Ukraine. The Euronext Paris exchange saw November rapeseed futures rise by 3.9% to €533.25/t or $617/t over the week.

The price increase is attributed to rising oil prices and increased demand for rapeseed from European processors due to a halt in sea exports of rapeseed from Ukraine and delays in supplies from local farmers.

In contrast, November canola futures on the ICE exchange in Winnipeg rose 2.8% for the week to 780 CAD/t or $559/t, partially offsetting last week's 10% drop.

The weather in Canada remains favorable for canola crops, with a high harvest forecast.