Cereal men mull oilseed rape switch
Interest in oilseed rape is on the increase as cereal growers consider forward contract prices ranging from €270-€300/t for the coming harvest.
Tillage and potato growers in the northeast appear to be particularly keen, with Glanbia predicting a 30pc rise in the oilseed rape acreage this year.
The co-op is quoting a base price of €280/t, based on crop harvested at 9pc moisture.
Quinns of Baltinglass are quoting forward prices ranging from €285/t to €300/t, at 9pc moisture, with moisture bonuses paid on top.
Liam Quinn said that tillage growers were acutely aware of price volatility and many were choosing to sign up to forward contracts for half their crop and hold the remaining half until harvest time.
"We found growers were getting an average of 1.7-1.75t/ac yield for winter rape," he said. "At a price of €300/t, a yield of 1.75t/ac gives them €500/ac."
Liffey/Drummonds are offering a minimum guaranteed price of €270/t, with the final price based on market price at harvest.
A spokesman for the company agreed that farmers were showing considerable interest in the crop.