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SunSirs China Rapeseed Oil Market Rose Last Week
March 25 2024 14:35:21SunSirs(Selena)

According to the monitoring of the commodity market analysis system of SunSirs, the average price of rapeseed oil spot market was 8,308 RMB/ton on March 15th, and the average price of rapeseed oil spot market was 8,480 RMB/ton on March 22nd, with a price increase of 1.09% during the period.

Last week, the trend of rapeseed oil was relatively strong, mainly driven by the rise of palm oil. In addition, the Canadian Department of Agriculture has lowered its rapeseed production and ending rapeseed inventory for the 2024/2025 fiscal year, which has resulted in better rapeseed market conditions and a positive impact on the domestic rapeseed spot market. Domestic rapeseed oil inventories are at a high level, limiting the potential for rapeseed oil price increases. It is expected that the quantity of imported rapeseed will increase from March to April, and the operating rate of oil factories will increase. The pressure on rapeseed oil supply is still ongoing. The demand for oil is in the off-season, and the fundamentals of rapeseed oil are poor. It is expected that the upward space for rapeseed oil is limited.


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