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SunSirs: China's Rapeseed Oil Prices Rose by 2.51% Last Week (5.31-6.4)

June 07 2021 08:28:26     SunSirs (Linda)

1. Rapeseed oil market price trend chart

At the beginning of last week, the average domestic rapeseed oil price was 11037 yuan/ton, and the average price last weekend was 11,315 yuan/ton, an increase of 2.51%.

2. Market analysis

On June 4, the quotation in Guangdong and Guangxi was 11,150 yuan/ton, the quotation in Anhui was 11,300 yuan/ton, the quotation in Jiujiang, Jiangxi was 11,400 yuan/ton, and the quotation in Fujian was 11110 yuan/ton. On June 3, the main oi2109 contract of vegetable oil futures closed at 10938 yuan, up 327 yuan. Affected by the epidemic, Malay production is limited, the US soybean weather is hyped, supported by multiple favorable factors, and the spot price of oil futures is rising. The international rapeseed supply is tight, and the imported rapeseed is less and the cost is higher, supporting the high level of rapeseed operation. New domestic rapeseeds are successively listed, and the operating rate of oil plants is expected to rebound. The supply of rapeseed oil may increase in stages, but the price difference between rapeseed oil and soybean oil and palm oil is large, which limits the demand for rapeseed oil.

Domestic rapeseed was launched on the market, and the price showed an upward trend. The National Grain and Oil Information Center predicts that my country's new rapeseed supply will be 17 million tons in 2021/22, an increase of 90,000 tons over the same period last year, of which domestic rapeseed production will be 14.5 million tons and imports will be 2.5 million tons. The annual rapeseed oil consumption was 16 million tons, an increase of 150,000 tons year-on-year, including 13.5 million tons of domestic rapeseed and 2.5 million tons of imported rapeseed; the annual rapeseed supply and demand balance was 10,000 tons.

3. Market outlook forecast

The risk of policy regulation is still there, and the room for rape oil to rise is limited.

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