SunSirs: Rapeseed Oil Price Surged With Fluctuation This Week (April.6-10)
April 13 2020 09:58:44 SunSirs (Daisy)
The average price of rapeseed oil at the end of this week was 7612 RMB/ton, and the average price at the beginning of the week was 7525 RMB/ton, up 1.16%.
The quoted price is 7600 RMB/ton in Chengdu, Sichuan, 7180 RMB/ton in Fangcheng, Guangxi and 7240 RMB/ton in Dongguan, Guangdong.
This week, four levels of rapeseed oil price was listed. Supported by good news, soybean oil and palm oil increased together. Meanwhile, schools have opened and the oil market demand was recovering, which increased the procurement and boost the rapeseed oil market.
Domestic rapeseed in the period of shortage of shortage, the market supply is tight, and the price slightly increased. As of April 3, the total inventory of domestic coastal imported rapeseed was 258,000 tons, which increased by 11,000 tons or 4.45% month-on-week, down 59.69% from 640,000 tons in the same period last year and the lowest level in the same period of the previous year. Customs data show that the cumulative imports of vegetable oil from January to February are 228,000 tons, which is basically the same as the same period last year.
Market Forecast: SunSits rapeseed oil analysts expect that oil market demand to improve, and rapeseed oil may be in strong operation.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.
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