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Rapeseed meal News
SunSirs: Supply is Expected to Increase, and the Upward Trend of Rapeseed Meal is Blocked in China
November 07 2022 14:19:12SunSirs(Selena)

According to the monitoring of SunSirs, the average market price of rapeseed meal was 4,128 RMB/ ton on October 31 and 4,148 RMB/ ton on November 3, with an increase of 0.24% during the period, 14.88% higher than that on September 1.

During the period from 10.31 to 11.3, spot rapeseed meal rose first and then fell. On the first day, the spot rapeseed meal rose significantly, mainly due to the 4.75% rise in Zheng rapeseed meal futures on the first day, and the spot rapeseed meal rose with the market. The Black Sea Agreement was blocked, benefiting the growth of meal products. Supply side, the operating rate of oil plants is low, and the rapeseed meal inventory is low to support the rapeseed meal price. In November, the number of rapeseed in Qiankou was low, and the supply of rapeseed meal was tight. According to statistics, Chinese oil plants have purchased 30 ships of rapeseed in November and December, about 1.8 million tons. The supply of rapeseed meal is expected to increase in the later period, which will depress the price of rapeseed meal. In terms of demand, the weather is cooling, the feeding of aquaculture is weakening, and the rapeseed meal ushers in the traditional off-season. The demand for rapeseed meal may decrease, limiting the upward space of rapeseed meal. On the other hand, the price difference of soybean and rapeseed meal is large, and the substitution of rapeseed meal is strong, driving the demand for rapeseed meal.

Soybean meal: According to the monitoring of SunSirs, the average market price of soybean meal was 5,414 RMB/ ton on October 31, and 5,572 RMB/ ton on November 3, with an increase of 2.92%. It was 23.49% higher than that on September 1. Near the end of October, the rigid demand for terminal feed was supported, the soybean meal inventory continued to decline, the domestic soybean meal market was tight, and the market rose, which was good for the rapeseed meal market.

Canada's rapeseed production increased, and China is expected to purchase a large number of imported rapeseed to Hong Kong, which may ease the supply of rapeseed meal later. In winter, aquaculture is in the off-season, and the demand for rapeseed meal is weakened, which is under double pressure. According to the analysis of rapeseed meal by SunSirs, it is expected that the trend of rapeseed meal will be more volatile and weak in China, and it is also necessary to pay attention to the changes of soybean meal market.

 

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