Price trend
On June 1, the price of domestic rapeseed meal went down. The average spot market price of rapeseed meal was 3,896 RMB/ton, down 0.81% from the previous trading day and up 32.37% year-on-year.
Analysis review
On June 1, Zhengzhou rapeseed meal futures fell by 2.75%, and the rapeseed meal spot fell.
According to statistics, the total imports of rapeseed meal in April increased from the previous month, and the import volume of rapeseed meal was at a relatively high level in the same period; China lifted the restrictions on the import of Canadian rapeseed; domestic rapeseed was launched in May, and the supply of rapeseed meal was limited.
Domestic rapeseed was launched in May, and the supply of rapeseed meal increased. Aquaculture has entered a peak demand season, supporting the rapeseed meal market.
Market outlook
The cost of rapeseed is high, and it is expected that the room for rapeseed meal to fall is limited, and the trend is mainly to continue to fluctuate.
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