1.Price Trend

According to the monitoring of SunSirs, the average price of domestic rapeseed at the beginning of the week was RMB 4790 yuan/ton, while the average price at the end of the week was RMB 4825 yuan/ton, up 0.73%.

2.Cause analysis

Products: The price of domestic rapeseed increased slightly. The price of domestic rapeseed in Yancheng, Jiangsu Province was about RMB 2.4 yuan/kg, that in Hubei Province was about RMB 2.5 yuan/kg, that in Anhui Province was about RMB 2.35 yuan/kg, that of rapeseed rose slightly, and that of spring rapeseed was on the market. However, the production of rapeseed in Inner Mongolia decreased, and the price of seed in Inner Mongolia increased, which boosted the domestic rapeseed market. At present, the production capacity of small-press strong coriander oil is limited, which limits the domestic demand for rapeseed, and the increase range of domestic rapeseed is limited.

Strategic Cereals estimates that rapeseed sown area in the EU will be 5.94 million hectares in 2020/21, 8% less than the average level between 2015 and 2019, but still 7% higher than the 5.55 million hectares harvested this year.

This week, the prices of rapeseed oil and rapeseed meal showed an upward trend. The average weekly price of grade IV rapeseed oil is RMB 7465 yuan/ton, the weekend average price is RMB 7545 yuan/ton, up 1.07%, the weekend average price of rapeseed meal is RMB 2320 yuan/ton, and the weekend average price is RMB 2363 yuan/ton, up 1.87%.

3.Future Market Forecast

Rapeseed analysts from SunSirs believe that domestic rapeseed prices may continue to operate strongly.

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