SunSirs: Rising Prices of Rapeseed Oil on October 9
October 11 2019 11:18:00 SunSirs (Eva)1.Price Trend
The average price of rapeseed oil on October 9 was RMB 7717 yuan per ton, up 1.35%% from pre-festival level, according to the monitoring of business associations.
2.Cause analysis
On October 9, the price of rapeseed oil in Sichuan was RMB 7720 yuan/ton, and that in Guangzhou and Guangdong was RMB 7400-7450 yuan/ton. The price of rapeseed oil was boosted by the rise of soybean and horse brown oil, and the spot price of domestic oil was raised. For rapeseed imports, from January to August, China imported 2.189 million tons of rapeseed, compared with 33.09 million tons in the same period last year, a decrease of 33.5% over the same period last year. Worries about reducing global rapeseed production boosted the market for rapeseed oil. Oil factories in South China have low start-up rate and high quotation is the main factor.
3.Future Market Forecast
SunSirs rapeseed oil analysts expect that rapeseed oil will be strong shocks in the main trend.
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