Price for European RME hits all-time high due to low Rhine levels
The price for European RME went up $102.75 week on week to an all-time high of $1,422/mt on 12 November. Low water levels along the Rhine were the main reason for the increase. Moving rapeseed to the crushing facilities, rapeseed oil to the biodiesel plants and also the movement of the finished RME is largely impossible. Alternative transport methods like rail or truck are fully booked and do not appear to be able to offer much help to the situation. The demand for RME also rises into winter due to its good cold properties. Imports of soy-derived biodiesel from Argentina have to stay in the tanks in ARA because the needed RME for blending is not available at the moment.