Rapeseed price increase pushing up product costs

Crops

The price of rapeseed is at its peak, which is why cooking oil, margarine and biofuels are also expected to become more expensive, according to a report by Népszava.

The main reason for the extraordinary price increase is that China also bought Ukrainian rapeseed and its products, so it could not enter the European market. Tamás Petőházi, president of the National Association of Cereal Growers, told the paper that this first happened last autumn, after which much more had to be paid for the valuable industrial crop.

The price per tonne is currently between HUF 185,000-195,000 instead of the previous 110,000-120,000. This has an impact mainly on the food industry, but rapeseed oil paints are already more expensive in the construction industry.

 

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