SunSirs: Rapeseed Price Increase In November 4
November 05 2019 14:58:09 SunSirs (Eva)
1.Price Trend
According to the monitoring of SunSirs, on November 4, the average price of domestic rapeseed was RMB 4950 yuan / ton, up 1.02% from last week's price.
2.Cause analysis
Products: on November 4, the price of domestic rapeseed was increased. Some traders slightly increased the price of rapeseed. The price of domestic rapeseed in Yancheng, Jiangsu Province was about RMB 2.5 yuan / Jin, that in Hubei Province was about RMB 2.5 yuan / Jin, and that in Anhui Province was about RMB 2.5 yuan / Jin. Inner Mongolia rapeseed oil 38-39% quoted price is RMB 1.9-1.95 yuan / Jin, oil 40% quoted price is RMB 2.1 yuan / Jin. The price of domestic rapeseed has been rising slightly, but the market turnover is limited.
According to the German industry organization oil world, the European Union's oil seed processing volume from July to September 2019 decreased by about 600000 to 700000 tons compared with the same period last year. Therefore, the oil world expects that the total processing volume of the three largest Oilseeds in the EU in 2018 / 19 (October to September) will be 47.9 million tons, a year-on-year decrease of 370000 tons.
Rapeseed oil was supported by palm oil production reduction expectations. Aquaculture enters the off-season, limiting the demand for rapeseed meal; on the other hand, the aquaculture industry has a high profit, the demand for protein meal has gradually picked up, and rapeseed meal has been adjusted in a narrow range.
3.Future Market Forecast
According to the rapeseed analysts of SunSirs, as the number of domestic rapeseed decreases gradually, the price of domestic rapeseed may be dominated by high-level operation.
If you have any questions, please feel free to contact SunSirs with marketing@sunsirs.com.
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