1. Price Trend
According to data from SunSirs, the average price of East China rapeseed meal on December 5 was 2,256 RMB/ton, and the offer price increased by 0.15% from the previous day.
2. Market Analysis
On December 5, the price of rapeseed meal in Nantong City, Jiangsu Province was 2,300 RMB/ ton, and the price of rapeseed meal in Fujian was 2,200 RMB/ton, which was slightly higher than the previous day. Importing rapeseed meal is restricted, and domestic rapeseed meal inventory is low. In the winter, aquaculture enters the low season.
Domestic rapeseed quotes mainly run at high levels. From May to October 2019, China's rapeseed imports amounted at 960,000 tons, a significant decrease of 1.81 million tons or 65% year-on-year.
News from Brussels on November 29th: The European Commission’ supply and demand data sheet which is settled down on November 28 announced that the EU's rapeseed production in 2019/20 is expected to be 16.654 million tons, which is lower than the 201.5 million tons in 2018/19. It is also lower than the average of 21.131 million tons in the past five years, which is also the lowest level in 13 years.
3. Market Forecasting
SunSirs' rapeseed meal analysts predict that with the upcoming Spring Festival stocking coming, rapeseed meal may be strong.
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