SunSirs: China's Rapeseed Oil Prices Fell Last Week (5.17-5.21)
May 24 2021 08:49:00 SunSirs (Linda)
1. Rapeseed oil market price trend
At the beginning of last week, the average domestic rapeseed oil price was 11,232 yuan/ton, and last weekend was 11,157 yuan/ton, down 0.67%.
2. Market analysis
On May 21, the Guangdong and Guangxi regions will offer 10,600-10,700 yuan/ton, the Anhui region will offer 11,000 yuan/ton, and the Jiangxi Jiujiang region will offer 10,780 yuan/ton. The recent weakening of international fats and oils and the rebound of domestic fats and oils stocks have suppressed vegetable oil prices. The price gap between rape oil and soybean oil and palm oil is large, restricting the consumption of rape oil.
According to customs data, in April 2021, rapeseed oil imports totaled 340 thousand tons, an increase of 36% from the previous month, which was the highest in three years. The supply of rapeseed oil was relatively loose. In terms of domestic rapeseed, new rapeseeds have been listed one after another, oil mills' crushing capacity has rebounded, and the quotations of new season rapeseeds have an upward trend. In terms of rapeseed meal, the peak season for aquaculture has arrived, and the demand for rapeseed meal has gradually improved.
3. Market outlook forecast
In summary, SunSirs rapeseed oil analysis predicts that rapeseed oil may fluctuate in a narrow range and run weakly.
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