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SunSirs: Chinese Rapeseed Meal Prices Fell Last Week (8.10-8.14)
August 17 2020 08:30:49SunSirs(Linda)

1. Rapeseed meal market price trend

According to the monitoring of SunSirs, the average price of rapeseed meal in East China last weekend was RMB 2,306/ton, and the average price of rapeseed meal at the beginning of last week was RMB 2,313/ton, down 0.29%.

2. Market Analysis

Rapeseed meal prices on August 14. According to SunSirs, in Jiangsu area, Dubai rapeseed meal in bulk, Nantong 2,340 yuan/ton; bulk rapeseed meal, Nantong 2,290 yuan/ton; Tianjin area, Canada bulk rapeseed meal, Tianjin 2,350 yuan/ton; bulk Dubai rapeseed meal, Tianjin 2,370 yuan/ton; Hunan, bulk rapeseed meal, Yueyang 2,380 yuan/ton; Xiamen, Fujian, packaged rapeseed meal 2,280 yuan/ton; Dongguan, Guangdong, packaged rapeseed meal 2,290 yuan/ton; Zhonggu Bilu, packaged rapeseed meal 2,390 yuan / tonne. As of the week of July 24, the rapeseed meal stocks in Guangdong, Guangdong and Fujian were reported to be 22,000 tons, a decrease of 1,900 tons from 23,900 tons last week, a decrease of 7.95%, and a decrease of 24.14% compared with the 29,000 tons of rapeseed meal stocks of various oil plants in the same period last year. 

Affected by China-Canada relations, the number of imported rapeseeds has decreased. As of the week of July 24, the total domestic coastal imported rapeseed inventory increased to 276,000 tons, an increase of 32,000 tons or 13.1% from 244,000 tons last week. Compared with 398,000 tons in the same period last year, a decrease of 30.65%. Freshwater fish farming is in the peak season, and the current fish prices have increased, boosting rapeseed meal prices.

3. Outlook

Rapeseed oil prices have fluctuated at a high level, depressing rapeseed meal prices; increased soybean meal stocks have dragged down the rapeseed meal market. SunSirs rapeseed meal analysts predict that the breeding industry is recovering recently, boosting rapeseed meal demand, rapeseed meal may rise.

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