SunSirs: Rapeseed Oil Price Fell on March 17
March 18 2020 10:23:08 SunSirs (Daisy )
The average price of rapeseed oil on March 17 was 7557 RMB/ton, down 0.56% from the previous day.
The price is as following:
7550 RMB/ton in Chengdu, Sichuan.
7200 yuan/ton in Fangcheng, Guangxi
7280 yuan/ton in Dongguan, Guangdong.
4 grade rapeseed oil quotation slipped. There is a weak operation of the external market. As the crude oil market fell, which drags on the oil market, rapeseed oil prices are under pressure.
At present, domestic rapeseed is in a period of shortage. Domestic rapeseed production reduction has become a foregone conclusion, supporting domestic rapeseed prices. Domestic vegetable oil supply is less, supporting vegetable oil prices. Rapeseed oil market demand is light. At present, the performance of vegetable meal is against the felling trend. Domestic epidemic has gradually recovered, and the market aquaculture demand may increase.
Market Forecasting:
To sum up, SunSirs rapeseed oil analysts expect that rapeseed oil prices may be weak fluctuations.
If you have any questions, please feel free to contact SunSirs with marketing@sunsirs.com.
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