According to the monitoring of the commodity market analysis system of Shengyishe, the average price of rapeseed oil spot market was 8,595 RMB/ton on December 1st, and the average price of rapeseed oil spot market was 8,201 RMB/ton on December 26th, with a price drop of 4.58% during the period.

The rapeseed oil market was weak in December. At the beginning of the month, rapeseed oil showed a significant decline, dragged down by the decline in Chicago soybean oil and international crude oil. On December 6th, the three major domestic oils and fats collectively fell. The significant increase in the quantity of imported rapeseed and rapeseed oil has negatively impacted the rapeseed oil market. According to data statistics, the number of imported rapeseed in China from January to November 2023 was 4.7525 million tons, a year-on-year increase of 235.79%. The number of imported rapeseed oil in China from January to November 2023 was 2.133 million tons, a year-on-year increase of 126.67%. Oil inventory is at a high level, and supply pressure is high.

The quantity of imported rapeseed is relatively large, and the operating rate of oil factories has significantly rebounded, resulting in an increase in rapeseed oil output; Approaching the holiday season, the downstream market's stocking volume is lower than in previous years, and it is expected that rapeseed oil will mainly fluctuate weakly.

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