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SunSirs: Domestic Rapeseed Oil prices Fell Sharply in June

July 01 2022 09:11:10     SunSirs (John)

Price trend

According to the monitoring of SunSirs, the average market price of rapeseed oil on June 1 was 14,398 RMB/ton, and the average market price of rapeseed oil on June 30 was 13,308 RMB/ton, down 7.57%.

According to the monitoring of SunSirs, the average price of soybean oil in Shandong on June 1 was 12,220 RMB/ton, and on June 30, the average price of soybean oil in Shandong was 10,796 RMB/ton, down 11.65%. The average domestic palm oil market price was 15,760 RMB/ton on June 1, and the average domestic palm oil market price was 11,570 RMB/ton on June 30, down 26.59%.

Analysis review

The price of rapeseed oil rose slightly in early June. The quantity of imported rapeseed oil dropped sharply, and domestic oil stocks were not high, which supported the price of rapeseed oil. After mid-June, the oil market continued to be weak, and the price of rapeseed oil fell sharply.

Indonesia issued a policy to speed up palm oil exports, which was bad for oil prices; the Fed raised interest rates by 75 basis points, which aroused market concerns about economic recession. The market had a strong negative atmosphere, and the prices of oil products had fallen sharply.

A large number of domestic rapeseeds were put on the market, and the output of rapeseed oil increased. The weather improvement in Canada's main producing areas will help improve the yield per unit of rapeseed. Since June, the Canadian rapeseed market has been weak, and the market demand for rapeseed oil is general.

Market outlook

It is expected that the price of rapeseed oil will fluctuate and run mainly on the weak side.

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