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German prices rise

as dollar firms

HAMBURG: Rising dollar values versus the mark pushed up price levels for German new crop rapeseed, brokers said, adding some August supplies had been bought.

Crushers were paying five to ten marks more than last week at 375 marks a tonne basis Hamburg August delivery.

Local trade buyers were offering 375 marks for September, 380 marks for October and 385 marks for November.

Producers were offering little new crop seed from the nearly completed harvest as they were hoping for higher levels later on while active crushers were mostly processing previously bought supplies.

Oil content of 1995 rapeseed was reportedly high at 40-43 percent. Average farmgate prices were 329.30 marks/tonne versus 331.90 marks last week and 362.80 marks paid a year ago.

Farmers said winter rape sowings for the 1996 harvest were hampered because of the hot and dry summer.

But they needed to stick to a Sept 15 deadline to declare their planting intentions in rape for industrial purposes on set-aside land. Brussels had not yet defined a set-aside rate.

Seed for delivery other than Hamburg traded at 330-370 marks for August depending on delivery mode and point, compared with 335-365 marks a week ago, with Sept-Nov around 380 marks.

Matif's Nov contract was last off six marks from last night at 383 marks and Feb was also off six at 395 marks.

In products, Aug-Oct rape oil was quoted higher at 84.25 marks fob per 100 kg compared with 82.85 marks last week.

Nov-Jan 1995/96 oil was at 85.50 marks, up 1.75 marks and Feb-April and May-July were each at 86.25 marks, up 1.25.

Nearby rapemeal sellers fob Hamburg per 100 kg, 34 percent protein, were slightly higher for Aug-Oct at 17.25-17.75 marks.

Nov-April was lower at 19.50 (19.75) and Feb-April rapemeal steady at 19.50 marks.-Reuter