SunSirs: Agri, Rapeseed Meal Price Decreased (January 13-19)
January 21 2020 09:52:50 SunSirs (Daisy)
The national average price of rapeseed meal in East China at the beginning of the week was 2,256 RMB / ton, while the national average price of rapeseed meal at the end of the week was 2,250 RMB / ton, down 0.3%.
In winter, the demand for rapeseed meal entered a consumption off-season, and most aquaculture was out of the market. The inventory of rapeseed meal in Guangdong, Guangdong and Fujian is 235 tons, and 69 thousand tons of rapeseed meal contracts are not executed. The decrease in the number of imported rapeseed and the low inventory of rapeseed meal support its price.
Given the conflict between China and Canada, the number of imported rapeseed is limited. As for the global production of rapeseed, the Ministry of Statistics Canada estimates that its rapeseed production is only 18.6 million tons, which is more than 1.7 million tons less than that of the previous year, while that of EU and Australia is reduced to some extent.
With the approach of Chinese New Year, market procurement is basically finished. In the context of global rapeseed reduction, rapeseed meal analysts of SunSirs expects that the decline of rapeseed meal is limited.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com
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