The massive decline in crude petroleum oil prices and the temporarily firm euro sent rapeseed prices in Paris plummeting to their lowest level in five months at the beginning of February 2016, according to the Union for the Promotion of Oil and Protein Plants (UFOP).

Cash market prices for rapeseed barely maintained the price gap against the previous year and the prices buyers are currently paying for the upcoming crop are below levels a year ago, the organisation said in a press released on 18 February.

At the same time, producers are hardly offering any batches, hoping that prices will rise significantly towards the end of the season.

Producers obtained €340/tonne free storage facility for spot material in mid-February, Agrarmarkt Informations-Gesellschaft mbH (AMI) reported. This was down €4/tonne from a week earlier and, up €8/tonne from the previous year.

Buyers most recently are paying €323/tonne for new-crop rapeseed, €4/tonne less than the same time a year ago.