The crisis in the European biodiesel market pushed rapeseed oil prices to a 3-year low of less than 840 USD/t last week. This is also down more than 180 USD/t from the average of March 2023, according to Oil World.
Particularly, large imports of biofuel from China by European counties have significantly reduced demand for domestically produced biodiesel.
Thus, Chinese biodiesel exports almost doubled on the year to 0.85 mln tonnes in January-April, 2023, although shipments slowed to a 4-month low of 178 thsd tonnes in April (+30% y-o-y).
The EU was the largest destination, and the total Chinese exports reached 0.83 mln tonnes in April-January 2023 (compared to 0.45 mln tonnes y-o-y).
You can learn more about the EU biodiesel market and trends in the rapeseed oil market at the VegOil Trade international conference, which will be held on June 8-9 in Rotterdam.
The detailed agenda is available on the APK-Inform website.