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SunSirs: Chinese Rapeseed Oil Prices Rose on April 21

April 22 2021 08:06:09     SunSirs (Linda)

1. Rapeseed oil market price trend

The average domestic rapeseed oil price was 11,145 yuan/ton on April 21, and the average price was 11072 yuan/ton on April 20, an increase of 0.65%.

2. Market analysis

On April 21, the Guangdong and Guangxi regions offered 10860-11060 yuan/ton, the Fujian region offered 10960 yuan/ton, and the Anhui region offered 11,000 yuan/ton. The price of vegetable oil rose on the 21st. Boosted by the rise in U.S. beans and horse palm, domestic oil and fat spot prices rose. 2020/2021 (August to July of the following year) Canadian rapeseed ending stocks are expected to be only 1.2 million tons, which is far lower than the 3.1 million tons in the same period of the previous year. This will be the lowest level since 2013 and the lowest level in Canada. In the context of inventory, the recent price of rapeseed futures on the Winnipeg Exchange in Canada hit a record high, supporting the price of rapeseed products. Domestic vegetable oil stocks are lower than the low level in the same period of previous years.

On Wednesday, April 21, the main OI2105 contract for vegetable oil futures on the Zhengzhou Commodity Exchange (CZCE) opened at 10457 yuan, closed at 10608 yuan, rose 280 yuan, reached 10630 yuan, lowest 10416 yuan, settled yesterday at 10328 yuan, settled at 10557 yuan, and traded The volume is 357,074 hands, and the open interest is 183,314 hands.

3. Market outlook forecast

The May Day holiday is approaching, and the demand for the catering industry is expected to increase. SunSirs rapeseed oil analysis predicts that rapeseed oil will run mainly due to high fluctuations.

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