SunSirs: Rapeseed Oil Price Falls With Fluctuation This Week (March.16-20)
March 23 2020 09:31:41 SunSirs (Daisy)
The average price of rapeseed oil at the end of this week was 7530 RMB/ton, and the average price at the beginning of the week was 7600 RMB/ton, down 0.92%.
The quotation was 7520 RMB/ ton in Chengdu, Sichuan. And the price was 7250 RMB / ton Fangcheng, Guangxi and price were 7150 RMB / ton in Dongguan, Guangdong. This week, four levels of rapeseed oil price shock down, and prices rebounded on Friday. Due to the drop in crude oil and foreign outbreak concerns, domestic vegetable oil spot prices were under pressure.
Domestic rapeseed is in a period of shortage, supporting domestic rapeseed prices. By mid-February, stocks of imported rapeseed in coastal areas had dropped sharply to 134,000 tons, down about 78% from a year earlier and at a historic low. The domestic epidemic situation is getting better, the restaurant industry is gradually recovering, and the demand for vegetable oil may increase.
Market Forecast
To sum up, SunSirs rapeseed oil analysts expect that rapeseed oil prices may be volatile movement.
If you have any questions, please feel free to contact SunSirs with marketing@sunsirs.com.
- 2024-04-23 SunSirs: China Rapeseed Oil Oscillates weakly (April 12-18)
- 2024-04-12 SunSirs: Good Supply, China Rapeseed Oil is Expected to Fluctuate weakly
- 2024-03-28 SunSirs: China Rapeseed Oil Rose first and then Fell in March
- 2024-03-25 SunSirs China Rapeseed Oil Market Rose Last Week
- 2024-03-19 SunSirs: China Rapeseed Oil Rose Last Week (March 11-15)
