SunSirs: Rapeseed Oil Prices Fell (9.16-9.20)
September 23 2019 14:43:13 SunSirs (Eva)1.Price Trend
According to the monitoring of SunSirs, the average price of Grade IV rapeseed oil was RMB 7590/ton at the beginning of the week and RMB 7550/ton at the end of the week, down 0.53%.
2.Cause analysis
Rapeseed oil rose first and then fell, narrowly adjusted. On September 20, the price of grade IV rapeseed oil in Guangxi was RMB 7340/ton, that of grade IV rapeseed oil in Jiangsu was about RMB 7500/ton, and that of grade IV rapeseed oil in Sichuan was RMB 7820/ton. The two-section stock is coming to an end and the market demand is slowing down. Oil and grease market declined in the middle of the week as a whole, dragged down by the decline in crude oil.
As for domestic rapeseed, the quotation of rapeseed for individual trade increased slightly, the yield of rapeseed in Inner Mongolia decreased, and the listing of rapeseed was delayed. On rapeseed imports: Global rapeseed production is expected to decrease by 939,000 tons in 2019/20, as production in Australia, the European Union, Ukraine and Chile declines.
3.Future Market Forecast
Affected by Sino-Canadian relations, the late supply of imported rapeseed is worrying. Analysts of rapeseed oil in SunSirs predict that rapeseed oil has limited space to decline.
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