1. Price Trend
According to data from SunSirs, the average price of rapeseed oil on November 20 is 7,870 RMB/ ton, with an increase by 0.56% from yesterday.
2. Market Analysis
On November 20, the price of rapeseed oil rises. The price of rapeseed oil in Sichuan Province is 8,130 RMB/ton, and the price in the Guangdong and Guangxi Province region is 7,850-7,900 RMB/ton. Grease future and spot price increases, which drive the spot price of rapeseed oil increasing. The market demand for rapeseed oil is acceptably demanding.
With the consumption of domestic rapeseed, the market supply gradually reduces. The price of domestic rapeseed will mainly operate at a high level. In addition, with the continuous decrease of acreage for rapeseed oil production, and with the block of importing rapeseed oil, good news will drive the rapeseed oil market.
3. Market Forecasting
In summary, SunSirs’ rapeseed oil analysts predict that rapeseed oil will go strong in the later period.
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