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Reaping rewards of rapeseed
CURRENT rape seed prices are firm enough to offer growers a decent reward if they decide to stay with sickly autumndrilled crops rather than ploughing them up.
With new crop rape seed trading at around £350 per tonne ex-farm for July, traders say this can offer a good return, even for crops that have struggled through the winter.
Trading manager at Gleadell Jonathan Lane said: “We are telling our growers that £350/t plus a bonus for oil content represents a good gross margin for them.”
With an oil bonus, this could push the price up to £370- £380/t, not that far from the current spot price ex-farm of around £385/t.
Mr Lane expects the UK rape seed crop to fall as low as 1.7m tonnes this year, from a 2012 harvest crop of more than 2.5m tonnes, due largely to poor autumn drillings.
Although the UK is set for a shortfall this season, better-looking crops in France and Germany are expected to more than compensate across Europe, traders say.