Rapeseed Oil Price Trend and Forecast

North America

In Q3 2022, the Rapeseed Oil Prices decreased owing to the decrease in demand and increase in the supply of the product. Due to large stocks and weak demand from end-use sectors, prices fell in the first part of Q3. In addition, the abundance of goods available on the domestic US market caused prices to decline regularly during the second half of Q3. Additionally, there was still some doubt regarding the new season's rapeseed output, which continues to support the lower seed prices. Due to huge stockpiles, local traders were forced to sell the product for less. Towards the end of Q3 2022, the price of Rapeseed Oil was recorded to be USD 1910/MT for the USA in July 2022.

Asia Pacific

In Q3 2022, due to the product's unstable market dynamics, the price of rapeseed oil varied throughout Q3. Due to a rise in demand from the Asia-Pacific region's domestic market and insufficient inventories, the price was raised in the first month. However, when Q3's second month approached, prices in China fell, supported by a steep reduction in the volume of imported oil. This low inventory position was crucial to maintaining the brisk business of the domestic Rapeseed oil market. Towards the end of Q3 2022, the price of Rapeseed oil was recorded to be USD 1675/MT for Ex Jaipur India in September 2022.

Europe

In Q3 2022, the price of Rapeseed Oil fluctuated owing to the unstable market dynamics in the domestic market. A drop in domestic demand and high levels of food consumption during the first part of Q3 led to price increases. Additionally, the war in Ukraine's export has greatly improved the home European market price of edible oils. As a result, the domestic market has an oversupply of Sunflower Oil Prices, Rapeseed oil, and other substitute edible oils used, which resulted in a drop in price. Low stocks and high demand from the downstream sectors resulted in an increase in the product price in the second part of Q3. Towards the end of Q3 2022, the price of Rapeseed oil was recorded to be USD 2140/MT FOB Novorossiysk in September 2022.

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