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SunSirs: Rapeseed Meal Price Went Stronger This Week (March 16-20)

March 23 2020 10:02:34     SunSirs (Daisy)

The average price of rapeseed meal in east China this weekend is 2320 RMB/ton, and the average price at the beginning of the week is 2306 RMB/ton, up 0.58%.

On March 20, Shanghai area, the price of bulk granular meal, Shanghai was 2300 RMB/ton, and the price is 20 RMB/ton higher than the previous day. 

Hunan area, the price of bulk grain meal, Yueyang was 2400 RMB/ton, and the price is 20 RMB/ton higher than last day. 

Jiangsu, the price of Dubai bulk meal, Nantong was 2340 RMB/ton (package + 50)

The price Zhonggu Bilu was 2370 RMB/ton, 10 RMB/ton higher than the previous day

The price of Bulk granular vegetable meal, in Nantong was 2310 RMB/ton.

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. Meanwhile, the stocks of vegetable meal in coastal areas are at a 5-year low of 22,000 tons. The weather is gradually warming, the domestic outbreak improved, and aquaculture feed demand may increase, supporting meal prices. Soybean meal market is strong, which bring good news to meal market.

Market Forecast 

SunSirs rapeseed meal analysts expect that rapeseed prices to be relatively strong due to low meal stocks.

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