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SunSirs: Chinese Rapeseed Meal Prices Increase on December 17

December 18 2020 08:24:52     SunSirs (Linda)

1. Rapeseed meal market price trend

According to SunSirs, the average price of rapeseed meal in East China was RMB 2,483/ton on December 17, and the average price of rapeseed meal on December 14 was RMB 2,410/ton, an increase of 3.04%.

2. Market Analysis

Rapeseed meal prices on December 17, according to SunSirs, Xiamen, Fujian, packaged rapeseed meal 2,500 yuan/ton, Nantong, Jiangsu, bulk rapeseed meal 2,500 yuan/ton, Tianjin area, bulk rapeseed meal 2,540 yuan/ton. At present, rapeseed meal is greatly affected by the trend of soybean meal. US soybean futures prices have risen, even soybean meal has risen with the market, soybean meal spot has risen, prices have rebounded, and rapeseed meal has risen.

In terms of domestic rapeseed, the market supply is gradually decreasing. Recently, traders are selling at an average speed, and the domestic rapeseed market has not changed much. As the festival approaches, market stocking starts, rapeseed prices may rise. Affected by China-Canada relations, the import of rapeseed is restricted, supporting the price of rapeseed meal. Aquaculture has entered the off-season, the demand for aquafeed has fallen, and the delivery of rapeseed meal has been poor.

3. Outlook

Rapeseed meal demand is weak, suppressing the rapeseed meal market, SunSirs rapeseed meal analysts predict that rapeseed meal upside space is limited.

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