Rapeseed prices are rising: Global processing volume has reached a record level, leading to a significant increase in market prices.

Prices for rapeseed are subject to significant fluctuations unlike other agricultural crops. During the 2023/2024 period, the global volume of rapeseed processing reached a record level of 77.2 million tons, exceeding the previous season by 0.6 million tons. At the beginning of the 2024/2025 season, rapeseed prices under DAP conditions in Constanta significantly increased, reaching an average of 440-450 euros/ton compared to 400-405 euros/ton at the start of the previous season. This statement was made by agricultural market expert Yuri Riya from Moldova.

“This increase is caused not only by the dry weather conditions but also by the rise in oil prices, which is attributed to conflicts in the Middle East and the cessation of production at the largest oil field in Libya. Regarding the global processing volume, this increase is particularly noticeable in the European Union, where processing volume reached 25.28 million tons, with Germany and Poland significantly increasing their figures, although a decrease is noted in France. The Republic of Moldova ranks third among rapeseed exporters in the EU, strengthening its position in the market,” the expert explains.

In Ukraine, rapeseed exports in July 2024 exceeded last year's figures, increasing by 15% to 278 thousand tons. According to Yuri Riya, such growth is linked to the early start of harvesting and high demand, driven by attractive prices.

“However, considering the pessimistic forecasts and the revision of rapeseed production in Ukraine and the EU for the year 2024, many producers without existing contracts prefer to postpone rapeseed sales. As of August 1, Ukrainian rapeseed prices are estimated at $400-415/ton under DAP Izmail/Reni conditions, compared to $340-360/ton for the same period last year,” he says.

The rapeseed market in Ukraine remains dynamic, with intense competition between exporters and processors, reflecting the instability and complexity of this segment.

Rapeseed prices in the Republic of Moldova vary significantly depending on the region, starting from 8600-8700 lei/ton including VAT in the northern part of the country and reaching 9000 lei/ton in the port area of Giurgiulesti.

“Compared to the previous season, prices have increased significantly — by 2000-2500 lei/ton. For example, in August 2023, the price of rapeseed started at 6100-6200 lei/ton, with the maximum price in Giurgiulesti at 7000 lei/ton. However, as prices increased, the number of active sellers decreased, and farmers occasionally sold rapeseed at lower prices,” the expert adds.