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SunSirs: Chinese Rapeseed Prices Rose Last Week (8.10-8.14)
August 17 2020 08:34:00SunSirs(Linda)

1. Rapeseed market price trend

According to the monitoring of SunSirs, the average price of domestic rapeseed at the beginning of this week was 5,425 yuan/ton, and the price at the weekend was 5475 yuan/ton, an increase of 0.92%.

2. Market Analysis

The price of domestic net rapeseed in Jiangsu is about 2.7 yuan/kg; the price of domestic net rapeseed in Hubei is about 2.85-2.95 yuan/kg; the price in Anhui is about 2.65-2.75 yuan/kg; and the price in Yunnan is about 2.83-2.85 yuan/kg. Excessive rainfall in the Yangtze River Basin in the early stage caused traffic inconvenience in some areas, and the price of rapeseed was suppressed. In the near future, heavy rainfall will completely withdraw. The downstream procurement is active. With the advancement of terminal demand, domestic rapeseed inventory has fallen, and the demand for strong coriander oil has become rigid. Support the price increase of domestic rapeseed.

The output of domestic rapeseed this year is estimated to be only about 3.6 million tons, which is a limited increase compared with last year; and the import volume of rapeseed is affected by the relationship between China and Canada. There are statistics. As of the week of July 24, the domestic coastal import rapeseed The total inventory increased to 276,000 tons, an increase of 32,000 tons from 244,000 tons last week, an increase of 13.1%, but a decrease of 30.65% from 398,000 tons in the same period last year.

3. Outlook

The number of imported rapeseeds has decreased and domestic rapeseeds have been consumed over time, and inventories have fallen. SunSirs rapeseed analysts predict that rapeseed prices may rise mainly.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.

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