SunSirs: China's Rapeseed Oil Prices Continue to Rise in August

1. Rapeseed oil market price trend

According to SunSirs: Monitoring, the average price of rapeseed oil at the beginning of this month was 8,840 yuan/ton, and the average price at the end of the month was 9,065 yuan/ton, up 2.55%.

2. Market analysis

On August 28, the Guangdong and Guangxi regions offered RMB 9,130-9,150/ton, the Anhui region offered RMB 9,300/ton, and the Sichuan region offered RMB 9,540/ton. According to statistics, as of the week of August 14, the vegetable oil inventory in Guangdong, Guangdong and Fujian decreased 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 in 160,500 tons, compared with 161,800 tons last week, a decrease of 232,900 tons, a decrease of 59.19%.
The decline in global rapeseed production and planting area has affected the decline in the number of imported rapeseeds, and domestic rapeseed oil stocks are at a low level, supporting the rise in rape oil prices. Due to the Meng Wanzhou incident, China-Canada relations have become tighter, limiting the amount of rapeseed imports, which is beneficial to the price of rapeseed oil. Since May, the domestic epidemic has gradually recovered, the catering industry has recovered steadily, and the demand for edible oil has increased.

In order to limit the growth rate of vegetable oil, China National Grain Vegetable Oil continued to sell, and the market vegetable oil supply increased. Starting from June 24 to August 13, China National Grain held a total of 7 rounds of vegetable oil auction sales, with a total of 98,410 tons of transactions, with a transaction rate of 78.6%. .

At the beginning of the month, the average price of soybean oil in the market was 6,416 yuan/ton, and at the end of the month, the average price of soybean oil was 6,693 yuan/ton, an increase of 4.31%. At the beginning of the month, the average market price of palm oil was RMB 5,934/ton, and at the end of the month, the average price of palm oil market was RMB 6,112/ton, with a price increase of 3%.

3. Outlook forecast

Favorable support, SunSirs rapeseed oil analysts predict that rape oil prices may continue to run at a high level.

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