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SunSirs: China's Rape Oil Prices Rose on November 18
November 19 2020 08:58:36SunSirs(Linda)

1. Rapeseed oil market price trend

According to SunSirs monitoring, the average price of rapeseed oil on November 18 was 10,367 yuan/ton, and the average price of the previous day was 10,280 yuan/ton, an increase of 0.85%.

2. Market analysis

On November 18, the quotations in Guangdong and Guangxi were around 10,200-10,230 yuan/ton, Anhui was 10,300 yuan/ton, Sichuan was 10,740 yuan/ton, and Fujian was 10,190 yuan/ton. According to data, at present, rapeseed stocks in coastal areas in China are about 246,000 tons, which is still lower than the 398,000 tons in the same period last month; rapeseed oil inventories in Guangdong, Guangdong and Fujian are 43,000 tons, which is lower than 47,600 tons in the same period last month. This is down from 77,000 tons in the same period last year. Rapeseed oil stocks are at a low level, supporting the rise in rape oil prices.

In terms of domestic rapeseed, there are not many surplus sources of domestic rapeseed in the domestic rapeseed market, and the downstream goods are better, and the price is in an upward trend. In the fourth quarter, rape oil was in the peak season of consumption, supporting the price of rape oil. On October 29, China Grain Oils & Oils Company bid to purchase 18,000 tons of rapeseed oil. All transactions were completed. The State Reserve increased the demand for purchasing rapeseed oil. In November and December, China National Reserve will purchase 74,000 tons of rapeseed oil and 50,500 tons of rapeseed oil. The supply of rapeseed oil is tight. , Vegetable oil runs at high prices.

3. Market outlook forecast

Imports of rapeseed are restricted, rapeseed oil stocks are at a low level, and oils are in peak demand season. SunSirs rapeseed oil analysts predict that rapeseed oil will mainly rise.

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