SunSirs: Rapeseed Oil Prices Fell on February 21
February 24 2020 09:25:39 SunSirs (Daisy)
The average weekly price of rapeseed oil on February 21 was 8270 RMB/ton, down 0.45% from the previous day, according to SunSirs.
The price in Chengdu, Sichuan is 8,470 RMB/ton. The price in Fangfeng Cheng, Guangxi Province is reported at 8,200 RMB/ ton. And the price in Dongguan, Guangdong is 8,210 RMB/ton. At the same time, affected by the epidemic, schools and enterprises started to delay, reducing the market demand for rapeseed oil. Rapeseed oil trading volume is not good.
At present, domestic rapeseed is in a period of bad time. The next year domestic rapeseed production has become a foregone conclusion, supporting domestic prices. In 2019, China imported less rapeseed, but more rapeseed oil than the previous year. Soybean oil stocks in coastal areas have increased with the recent resumption of oil production, leading palm oil producers to enter the production cycle, dragging down the price of vegetable oil.
Market Forecasting: All in all, SunSirs rapeseed oil analysts expect that rapeseed oil may be weak.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.
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