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SunSirs: Chinese Rapeseed Meal Prices are Strong in October

October 30 2020 08:12:11     SunSirs (Linda)

1. Rapeseed meal market price trend

According to the monitoring of SunSirs, the average price of rapeseed meal in East China at the beginning of this month was 2,310 yuan/ton, and the average price at the end of the month was 2,430 yuan/ton, an increase of 5.19%.

2. Market Analysis

Rapeseed meal prices on October 29. According to SunSirs, in Xiamen, Fujian, packaged rapeseed meal is 2,400 yuan/ton, in Nantong, Jiangsu, bulk rapeseed meal is 2,440 yuan/ton, and bulk powdered rapeseed meal is 2,460 yuan/ton. The price of rapeseed meal was strong this month, and the price was at a high level. According to SunSirs monitoring, soybean meal rose by 6.3% in October, boosting the price of rapeseed meal, and the trend of rapeseed meal followed that of soybean meal.

The domestic rapeseed market does not have many sources, and the downstream products are better, and the high price operation is the main. According to customs data, in September 2020, rapeseed imports amounted to 270,300 tons, an increase of 102.32% month-on-month and an increase of 67.9% year-on-year; the cumulative imports of rapeseed from January to September were 2,170,400 tons, an increase of 12.93% year-on-year; September rapeseed oil imports The volume was 194,400 tons, an increase of 51.9% year-on-year, and the cumulative imports from January to September were 1.4219 million tons, an increase of 28.51%.

3. Outlook

Aquaculture is in the off-season, and the market demand for rapeseed meal has weakened. SunSirs rapeseed meal analysts predict that rapeseed meal has limited room for growth.

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