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SunSirs: Agriculture: The price of Rapeseed Oil Price Rises on November 20

November 21 2019 10:29:12     SunSirs (Daisy)

1. Price Trend

According to data from SunSirs, the average price of rapeseed oil on November 20 is 7,870 RMB/ ton, with an increase by 0.56% from yesterday.

2. Market Analysis

On November 20, the price of rapeseed oil rises. The price of rapeseed oil in Sichuan Province is 8,130 RMB/ton, and the price in the Guangdong and Guangxi Province region is 7,850-7,900 RMB/ton. Grease future and spot price increases, which drive the spot price of rapeseed oil increasing. The market demand for rapeseed oil is acceptably demanding.

With the consumption of domestic rapeseed, the market supply gradually reduces. The price of domestic rapeseed will mainly operate at a high level. In addition, with the continuous decrease of acreage for rapeseed oil production, and with the block of importing rapeseed oil, good news will drive the rapeseed oil market.

3. Market Forecasting

In summary, SunSirs’ rapeseed oil analysts predict that rapeseed oil will go strong in the later period.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com

 

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