According to monitoring data from SunSirs, the average spot market price for rapeseed oil stood at 10,212 RMB/ton on April 3; by April 9, this average had fallen to 9,920 RMB/ton—a decline of 2.86%.

Cost Side: Import tariffs on Canadian rapeseed have been significantly reduced, leading to a marked decrease in import costs; consequently, domestic spot market prices have followed this downward trend.

Supply Side: With the clarification of tariff policies between China and Canada, oil mills have shown a noticeable increase in purchasing enthusiasm. A concentrated volume of Canadian rapeseed is scheduled to arrive at ports in April, suggesting that the supply of rapeseed oil will gradually shift toward a more ample state.

Demand Side: April marks the traditional off-season for consumption; consequently, terminal demand—particularly within the catering and food processing sectors—has seen no significant boost. Oil mills are taking delivery at a sluggish pace, resulting in light trading activity in the spot market. The broader oils and fats sector remains weak; as a high-priced commodity within this category, rapeseed oil lacks a competitive cost-performance advantage. It is increasingly being substituted by lower-priced oils, leading to a diversion of demand away from the product.

Lacking any bullish market drivers—and with domestic supply gradually becoming more abundant—the current pattern of weak demand is unlikely to reverse quickly. As a result, rapeseed oil prices still have room to trend lower.

SunSirs has been continuously tracking price data for over 200 commodities for nearly 20 years, please contact support@sunsirs.com for subscription.