SunSirs: Rapeseed Meal Prices Increased Slightly (9.16-9.20)
September 23 2019 15:09:25 SunSirs (Eva)1.Price Trend
According to the monitoring of SunSirs, the average price of rapeseed meal at the beginning of the week was RMB 2341/ton, and the average price of rapeseed meal at the end of the week was RMB 2348/ton, up 0.28%.
2.Cause analysis
Rapeseed meal prices rose slightly. The rapeseed meal quoted RMB 2330-2390/ton in Jiangsu on September 20. Recently, there is a strong and weak pattern of rapeseed meal in the market. The peak of aquaculture has passed, the market demand is limited, the relationship between China and the United States has eased, the soybean meal market is under pressure, and the rapeseed meal market is hampered.
As for domestic rapeseed, the price of domestic rapeseed in Yancheng area of Jiangsu province is about RMB 2.38/kg, that in Hubei province is about RMB 2.4/kg, and that in Anhui province is about RMB 2.35/kg. The price of rapeseed shows an upward trend. The rapeseed production in Inner Mongolia is reduced and the market is delayed, which supports the market of rapeseed in the Yangtze River Basin. 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
Rapeseed meal market is greatly affected by the trend of soybean meal market. If Sino-US relations ease somewhat, rapeseed meal analysts of SunSirs predict that rapeseed meal will mainly run downward.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.
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