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Despite biofuels ban for palm in EU, palm prices at parity with Sunoil and Rapeseed oil

Within soft oil complex Rapeseed oil remains the cheapest oil in Europe. Generally speaking we should be expecting that Palm oil be at least $100/mt lower but that is not the case. We should also expect that Sunflower oil be at a premium to Rapeseed oil. Harvest for Rapeseed is only 60 days away now in Europe and perhaps earlier for Southern Europe. Rapeseed crop prospects for Europe have been raised to 20 Mil MT while imports are still running hot.

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