THE largest shipment of oilseed rape to leave UK shores this season – and the biggest from a north-eastern port for over a decade – departed this week for Turkey.
A total of 22,000 tonnes was loaded onto the MV Maraki at Gleadell’s deep-water facility at ABP’s Port of Immingham.
The cargo would help to keep the UK’s OSR export trade on track, said Gleadell trading director Jonathan Lane.
He said: “Given this season’s crop of 2.4 million tonnes, the country needs to export about 400,000t. We are about halfway there midway through the season.”
Turkey had been an occasional customer of the UK in recent years, but cheaper freight rates and the UK’s competitive prices at the time of the sale had helped secure this latest trade, said Mr Lane.
The rapeseed market remained flat, with significant change unlikely in the short-term, he added.
EU values had fallen back due to slack crush demand, but the weakening pound had helped shore up prices this side of the Channel.
“Sterling has slipped about 4.5 cents since December, cushioning prices to the tune of £12-13/t.”
Future direction was largely weather dependent, Mr Lane said. The next marker would be the condition of the European crop coming out of the winter.