SunSirs: Chinese Rapeseed Oil Prices Fell on January 20
January 21 2021 08:40:34 SunSirs (Linda)
1. Rapeseed oil market price trend
According to SunSirs monitoring, the average price of rapeseed oil on January 20 was 10,755 yuan/ton, and the average price on January 18 was 10,917 yuan/ton, down 1.49%.
2. Market analysis
On January 20, the quotations in Guangdong and Guangxi were around 10380-10400 yuan/ton, the quotation in Anhui was 10600 yuan/ton, the quotation in Jiangxi was 10620 yuan/ton, the quotation in Sichuan was 10740 yuan/ton, and the quotation in Fujian was 10400 yuan/ton. The price of rapeseed oil fell on the 20th, mainly due to a sharp drop in horse palm oil and a drop in the spot oil price.
The amount of imported rapeseed is not large, and the crushing capacity of rapeseed oil plants remains low. According to statistics, the stock of rapeseed oil fell to 142,500 tons last week, a decrease of 12%; affected by the domestic epidemic, logistics is limited, coupled with rape oil, soybean oil, and palm oil prices Larger and limited vegetable oil consumption.
3. Market forecast
Under the background of reduced rapeseed production in Canada, the main producing country, and tight global rapeseed oil supply and demand, SunSirs rapeseed oil analysts expect a limited drop in rapeseed oil prices.
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