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SunSirs: China's Rapeseed Oil is Mainly Operating at High Levels in September

September 30 2020 08:13:53     SunSirs (Linda)

1. Rapeseed oil market price trend

According to SunSirs monitoring, the average price of rapeseed oil at the beginning of this month was 9,252 yuan/ton, and the average price at the end of the month was 9,460 yuan/ton, an increase of 2.24%.

2. Market analysis

On September 29, the Guangdong and Guangxi regions offered about 9,470 yuan/ton, the Anhui region offered 9,600 yuan/ton, the Sichuan region offered 9,890 yuan/ton, and the Hubei region offered 9,750 yuan/ton. According to customs data, my country imported 1.07 million tons of vegetable oil from January to July, an increase of 44% over the same period of the previous year, of which 543,000 tons were imported from Canada, a year-on-year decrease of 11.2%.

In terms of domestic rapeseed, the number of rapeseed harvested in summer is gradually decreasing. This year, the output of rapeseed in Northwest China has decreased, which boosted the domestic rapeseed market. Affected by China-Canada relations, the number of imported rapeseeds has decreased, and the operating rate of oil plants in coastal areas is not high; coupled with the holiday effect, good market demand has boosted the price of rapeseed oil.

3. Outlook forecast

SunSirs rapeseed oil analysts predict that rapeseed oil prices may continue to run at high levels.

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