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SunSirs: Rapeseed Prices Rose Last Week (2.15-2.19)
February 23 2021 08:34:12SunSirs(Linda)

1. Rapeseed market price trend

According to the monitoring of SunSirs, the average price of rapeseed at the beginning of last week was 6450 yuan/ton, and the average price of rapeseed last weekend was 6475 yuan/ton, and the quotation increased 0.39%.

2. Market Analysis

The price of domestically produced net rapeseed in Hubei is around 3.1-3.35 yuan/500g; the price in Anhui is around 3.15-3.2 yuan/500g; the price in Jiangsu is around 3.25 yuan/500g; the price in Sichuan is around 3.5 yuan/500g; the price in Inner Mongolia is 2.95 yuan/500g about. The domestic rapeseed market has fewer sources, and the decline in Northwest rapeseed production has supported the rise in rapeseed prices. Just after the Spring Festival, the downstream market demand is general.

In terms of imported rapeseed, the Canadian Department of Agriculture and Food (AAFC) released a February supply and demand report, which raised the forecast for rapeseed acreage before the start of spring planting, as futures prices were close to record highs. The AAFC forecasts that this year's rapeseed sown area will be increased by 100,000 hectares to 8.75 million hectares, an increase of 340,000 hectares from the previous year and a three-year high.

3. Outlook

SunSirs rapeseed analysts predict that the domestic rapeseed market is relatively small, and prices may be strong.

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