SunSirs: China's Rapeseed Oil Prices Fall
August 13 2020 08:35:26 SunSirs (Linda)
1. Rapeseed oil market price trend
According to the monitoring of SunSirs, the average domestic rapeseed oil price was 8,970 yuan/ton on August 12, and the quotation was down 0.53% from the previous day.
2. Market Analysis
On August 12, the Jiangsu area offered 9,000 yuan/ton, the Guangdong and Guangxi areas offered 8,950-8,980 yuan/ton, and the Anhui area offered 9,100 yuan/ton. Recently, the spot price of vegetable oil has ended the previous upward trend, and the price has fallen mainly. Mainly affected by falling futures. As of the week of July 24, the vegetable oil inventory in Guangdong, Guangdong and Fujian increased to 31,000 tons, an increase of 29,200 tons from last week, an increase of 6.16%, but a decrease of 67.4% from 95,200 tons in the same period last year. The demand for rapeseed oil was weaker than the previous period.
Affected by China-Canada relations, the inventory of imported rapeseed fell from the same period last year. As of the week of July 24, the total inventory of imported rapeseed in the coastal areas increased to 276,000 tons, an increase of 32,000 tons or 13.1% from 244,000 tons last week. , But compared with 398,000 tons in the same period last year, a drop of 30.65%.
3. Outlook forecast
In summary, in the context of restricted imports of rapeseed, SunSirs rapeseed oil analysts predict that rapeseed oil prices have limited room to fall.
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