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SunSirs: China Domestic Rapeseed slightly Increased
March 22 2024 15:02:07SunSirs(Selena)

According to the monitoring of the commodity market analysis system of SunSirs, the price of domestic rapeseed has recently slightly increased. On March 14th, the average market price of domestic rapeseed was 6,080 RMB/ton, and on March 21st, the average market price of domestic rapeseed was 6,132 RMB/ton, an increase of 0.86%. Affected by freezing rain and blizzard weather, there are expectations of reduced production of domestically produced new season rapeseed, supporting the market's rise. In addition, as the supply of domestically produced rapeseed gradually decreases over time, the market is bullish. However, due to the impact of imported rapeseed, the upward adjustment space is hindered. Recently, the market trend of rapeseed oil and meal has been relatively strong, which has to some extent boosted the rapeseed market. In the short term, it is expected that domestic rapeseed will remain stable.

On March 20th, Canadian rapeseed futures on the Intercontinental Exchange (ICE) closed higher, with the benchmark period closing up approximately 2.22%, the highest level in two and a half months.


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