SunSirs: China's Rapeseed Meal Prices Fall due to Low Demand
January 21 2021 08:37:42 SunSirs (Linda)
1. Rapeseed meal market price trend
According to SunSirs, the average price of rapeseed meal in East China was 2836 yuan/ton on January 20, and the average price on January 18 was 2880 yuan/ton, down 1.5%.
2. Market analysis
On January 20, the price of rapeseed meal was 2820 yuan/ton in Fujian, 2760-2830 yuan/ton in Guangdong and Guangxi, and 2840 yuan/ton in Jiangsu. Imported rapeseed is not large. According to statistics, the operating rate of rapeseed oil plants continued to decline last week, rapeseed meal stocks fell 10.8% to 41,000 tons, and rapeseed meal stocks were at a low level in recent years.
Soybean meal spot prices have recently recovered, and rapeseed meal prices have followed a decline; aquaculture is in the off-season, and rapeseed meal demand is weak, depressing rapeseed meal prices; the number of imported rapeseeds is small, rapeseed meal stocks are at a low level, and rapeseed meal itself presents a pattern of weak supply and demand. , The spot price mainly follows the price trend of soybean meal.
3. Outlook
Demand for rapeseed meal is weak, and soybean meal prices have corrected. SunSirs rapeseed meal analysts predict that rapeseed meal prices will fluctuate downward.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.
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