1.Price Trend

According to the monitoring of SunSirs, the average price of rapeseed meal at the beginning of the week was RMB 2320 yuan/ton, while the average price of rapeseed meal at the end of the week was RMB 2363 yuan/ton, up 1.87%.

2.Cause analysis

The price of rapeseed meal in Jiangsu was RMB 2380-2410 yuan/ton on October 11. After the festival, the price of rapeseed meal rose sharply, mainly affected by the spot price of soybean meal, which boosted the price of rapeseed meal. With the cooling of the weather, the demand for aquaculture decreased, which limited the space for rapeseed meal to be raised.

As for domestic rapeseed, the price of domestic rapeseed in Yancheng, Jiangsu Province is about RMB 4.8 yuan/kg, that in Hubei Province is about RMB 2.5 yuan/kg, and that in Anhui Province is about RMB 2.35 yuan/kg. The price of domestic rapeseed has risen slightly. The price of rapeseed in Inner Mongolia has risen, boosting the domestic market of rapeseed. For rapeseed imports, Strategic Cereals estimates that rapeseed sown area in the EU will be 5.94 million hectares in 2020/21, 8% less than the average level between 2015 and 2019, but still 7% higher than the 5.55 million hectares harvested this year.

3.Future Market Forecast

The market price of rapeseed meal should pay more attention to the price trend of soybean meal. The analysts of rapeseed meal in SunSirs expect that the price of rapeseed meal will be higher after the festival.

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