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Global edible oil prices near their peak, but retreat may be slow - analysts

Global edible oil prices near their peak, but retreat may be slow - analysts
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Tight EU rapeseed supplies to suck in imports - Oil World

3/3/2021 HAMBURG, March 3 (Reuters) - Soaring prices of rapeseed in the European Union due to a sharp fall in supplies is likely to boost EU imports of the oilseed in the first six months of 2021, Hamburg-based analysts Oil World said on Wednesday. Paris rapeseed futures on Tuesday hit their highest since September 2012 on tight European inventories and firm international oilseed markets. Stocks in the 27 EU member states of rapeseed/canola, used for edible oil and biodiesel production, fell to an estimated 8.7 million tonnes in early January 2021 from 9.1 million in January 2020 and 10.7 million in January 2019, Oil World CEO Thomas Mielke told Reuters.

Poor returns for castor may force farmers to switch to other crops

Poor returns for castor may force farmers to switch to other crops The switchover could lead to oil shortage next year The global market will likely face castor oil shortage next year as castor planting is seen lower this year in view of comparatively low returns for it, according to industry experts. The experts, who addressed the Global Castor Oil Conference 2021 Webinar, see a decline in the area under castor in India further to the one that has been witnessed last year in view of the low returns. Sowing of the castor crop normally begins in the second half of the year.

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