SunSirs: Agriculture, Rapeseed Meal Price Rises This Week (December 30 – January 3)
January 06 2020 08:46:24 SunSirs (Daisy)
1. Price Trend
According to data from SunSirs, the average price of East China rapeseed meal at the beginning of this week was 2,253 RMB / ton, and the average price at the weekend was 2,276 RMB / ton, up 1.04%.
2. Market Analysis （see historical analysis）
Up to December 27, rapeseed meal stocks of oil mills in Guangdong, Guangxi and Fujian were 16,000 tons, an increase of 0.5 million tons week-on-week, and an increase of 45.45%. But it has a decrease of 38.46% compared to 26,000 tons in the same period last year, which is also the lowest level in the same period of previous years.
Supply: The supply of raw materials for rapeseed is tight. The operating rate of oil mills is not high, and the supply of rapeseed meal is tight.
Inventory: The holiday season is approaching, and stocks in the downstream market are increasing, boosting the price of rapeseed meal.
Import: The amount of imported rapeseed is relatively small. Up to December 27, the total stock of rapeseed imported by oil plants in domestic coastal areas was 103,000 tons, a week-on-month decrease of 31.3% and a year-on-year decrease of 75.5%.
According to China Customs, from January to November 2019, China imported a total of 25.923 million tons of rapeseed, a decrease of 40% compared with the same period last year. Among them, from January to November 2019, China imported a total of 2.432 million tons of Canadian rapeseed, compared with 4.0953 million tons in the same period of the previous year, a decrease of 45.2%.
3. Market Forecasting
Affected by raw materials, analysts of the rapeseed meal of SunSirs predict that the rapeseed meal may fluctuate strongly.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com
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