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SunSirs: China's Rapeseed Oil Prices Fluctuated at a High Level Last Week (4.12-4.16)
April 20 2021 09:47:29SunSirs(Linda)

1. Seed oil market price trend

At the beginning of last week, the average domestic rapeseed oil price in China was 11,127 yuan/ton, and the average price this weekend was 11,150 yuan/ton, an increase of 0.2%.

2. Market analysi

On April 16, the quotations in Guangdong and Guangxi were 10880-11,000 yuan/ton, the quotations in Sichuan were 11220 yuan/ton, the quotations in Fujian were 10900 yuan/ton, and the quotations in Anhui were 10900 yuan/ton. Due to the limited import of rapeseed, my country imports rapeseed oil to meet domestic demand. According to data, the import volume of rapeseed oil will reach 130,000 tons in the next 3-4 months, which is basically the same as the previous import volume and is still at the middle level of the same period in five years. 

Rapeseed oil inventories are at a low level in the same period of previous years, and the profit of rapeseed crushing is at a loss. It is expected that the purchase of imported rapeseed in the later period is lower than expected, which will boost the price of rapeseed oil. In the middle of this week, grain storage was auctioned for rape oil and soybean oil, and the oil market policy control measures were implemented, and the pressure of oil price rebound increased.

On Friday, April 16, the main OI2105 contract for vegetable oil futures on the Zhengzhou Commodity Exchange (CZCE) opened at 10,232 yuan, closed at 10,431 yuan, up 91 yuan, with a maximum of 10464 yuan, and a minimum of 10,213 yuan. Yesterday’s settlement was 10340 yuan, settlement was 10345 yuan, and the transaction was completed. The volume was 393,468 hands, and the open interest was 163,529 hands.

3. Market outlook forecast

In the coming May Day holiday, the demand in the catering industry is expected to increase. SunSirs rapeseed oil analysis predicts that rapeseed oil will mainly operate at high levels and strong fluctuations.

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

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