SunSirs: Rapeseed Price is Weak This Week (Feb.17-21)
February 25 2020 09:16:30 SunSirs (Daisy)
The average price of rapeseed in China was 5,140 RMB/ton at the beginning of this week and 5,125 RMB/ton at the weekend, down 0.29%.
Products: This week, the price of domestic rapeseed in Yancheng, Jiangsu province is 2.52 RMB/kg, that in Hubei province is 2.58 RMB/kg, and that in Anhui province is 2.55 RMB/kg. The Rapeseed market is basically stable. Most enterprises maintain the previous year’s rapeseed prices.
Affected by the epidemic, the downstream enterprises started to delay. The market demand is not good, and each trader cut the price. Domestic winter rapeseed production reduced. At present, Inner Mongolia rapeseed inventory is low, supporting domestic rapeseed prices.
Affected by the conflict between China and Canada, the total amount of imported rapeseed stocks in coastal areas was 134,000 tons in the week ending February 14, down 77.72% year on year and at a historically low level.
Aquaculture in the off-season superposition market epidemic drag rapeseed meal market demand. Schools have not yet opened. And companies have returned to work late and the rapeseed oil market is not doing well.
Market Forecasting: SunSirs’ rapeseed analysts expect domestic rapeseed prices may be sideways.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.
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