SunSirs: China's Rapeseed Prices Rose in July
August 04 2020 08:21:37 SunSirs (Linda)
1. Rapeseed market price trend
According to SunSirs, the average domestic rapeseed price was 5,425 yuan/ton at the end of July, and 5,315 yuan/ton at the beginning of July, an increase of 2.07%.
2. Market Analysis
The price of domestic net rapeseed in Jiangsu is about 2.64 yuan/kg; the price of domestic net rapeseed in Hubei is about 2.8-2.85 yuan/kg; the price in Anhui is about 2.65-2.75 yuan/kg; and the price in Yunnan is about 2.7 yuan/kg. As the income of rapeseed is not high, farmers are reluctant to sell it, and traders are competing to buy it. The price of rapeseed has risen. Small-machine oil mills in the mainland have shut down on a large scale. In addition, the sharp increase in rapeseed oil in the previous period has boosted the price of rapeseed.
China’s imports of rapeseeds have decreased. According to data from the General Administration of Customs, from January to May 2020, China’s cumulative imports of rapeseeds were 1.279 million tons, a decrease of 46.14% from the same period last year. Canada accounted for 68.78% and Australia accounted for 22.64%.
3. Outlook
SunSirs rapeseed analysts predict that rapeseed prices may be stable.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.
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