SunSirs: China's Rapeseed Meal Prices Fluctuated and Fell in August
August 28 2020 08:42:26 SunSirs (Linda)
1. Rapeseed meal market price trend
According to the monitoring of SunSirs, the average price of rapeseed meal in East China this weekend was RMB 2,303/ton, and the average price of rapeseed meal at the beginning of the month was RMB 2,373/ton, down 2.95%.
2. Market Analysis
Rapeseed meal prices on August 27. According to SunSirs, Jiangsu area, Dubai bulk rapeseed meal, Nantong 2,330 yuan/ton; bulk rapeseed meal, Nantong 2,310 yuan/ton; Tianjin area, Canada bulk rapeseed meal, Tianjin 2,390 yuan/ton; Fujian Xiamen, packaged rapeseed meal 2,280 yuan/ton; Dongguan, Guangdong, packaged rapeseed meal 2,290 yuan/ton; Zhonggu Bilu, packaged rapeseed meal 2,390 yuan/ton. As of the week of August 14, the vegetable oil inventory in Guangdong, Guangdong and Fujian was reduced to 39,000 tons, a decrease of 1.52% from 39,600 tons last week, and a decrease of 54.65% from 86,000 tons in the same period last year. The total inventory in East China was 160,500 tons. Compared with 161,800 tons last week, a decrease of 232,900 tons, a decrease of 59.19%.
The quantity of domestic rapeseed to the port is still at a low level in recent years, supporting the price of rapeseed meal; aquaculture is mainly concentrated in the south, and the recent rainfall has improved, and the expected consumption of rapeseed meal has improved. This month, the soybean meal price dropped 2.13% from the average price of 3,045 yuan/ton at the beginning of the month to 2,980 yuan/ton at the end of the month. The drop in the price of soybean meal dragged down the price of rapeseed meal.
3. Outlook
SunSirs rapeseed meal analysts expect that under the background of tight supply of imported rapeseed, under the pressure of weak soybean meal market, the downside of rapeseed meal is limited.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.
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