On September 16, the price of rapeseed for the production of rapeseed oil passed the €600 per ton mark, compared to €390 a year earlier.
Several phenomena have caused this spectacular rise:
- The low Canadian production, 13 instead of the usual 20 million tons, due to the summer heat dome;
- The high price of palm oil, €916 per ton instead of the usual €500, due in part to its Bangladeshi workforce, absent because of Covid.
Rapeseed oil and palm oil are also under pressure due to a growing demand for biofuel.
Source : Le Monde