SunSirs: The Price of Rapeseed Oil Fell Slightly
January 08 2020 11:15:18 SunSirs (Molly)
1. Price trend
The average price of rapeseed oil was $1,169.42 / ton on January 7, down 0.06% from Friday, according to SunSirs.
2. Market analysis
The price of grade 4 vegetable oil in Guangdong is $1172.02 / ton, while that in Guangxi is $1151.86/ ton. Approaching the Spring Festival, the market preparation stage has come to the end, the market demand has become weak. As of December 27, stocks of rapeseed oil in coastal areas reported 66,500 tons, an increase of 7,400 tons from last week, while stocks in eastern China reported 274,600 tons, a decrease of 12,500 tons, and contracts outstanding in coastal areas reported 91,000 tons, an increase of 3,100 tons.
In the fourth quarter, the quantity of imported rapeseed was low, and the opening rate of rapeseed oil plant was reduced. Rapeseed stocks in coastal areas were reported at 103,000 tons by December 27, down 47,000 tons month-on-week. Affected by China-Canada relations, China imported 2.3495 million tons of rapeseed from January to September 2019, down 35.26% from the same period last year.
3. After-Market forecast
Due to the impact of imported raw materials, SunSirs rapeseed oil analysts expect that rapeseed oil is likely to be strong shock run dominated.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.
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