According to data from SunSirs, the average market price of rapeseed meal was 2,410 RMB/ton on June 1 and 2,406 RMB/ton on June 25, representing a decline of 0.17%.

Trade policies regarding rapeseed between China and Canada have eased, leading to a surge in imported rapeseed arrivals; combined with the market launch of the new domestic rapeseed crop, raw material supplies for crushing plants are abundant. Crushing operations have ramped up, resulting in increased rapeseed meal output and a rapid short-term accumulation of coastal inventories.

The period from June to September marks the traditional peak season for aquaculture feeding, providing a price floor driven by essential demand. However, with ample soybean meal supplies and a narrow price spread between soybean meal and rapeseed meal, feed mills are increasingly substituting rapeseed meal with soybean meal, thereby limiting demand for the former. Meanwhile, persistent losses in the hog farming sector have dampened demand for livestock and poultry feed, leading to reduced procurement of protein ingredients.

With rapeseed meal supplies continuing to rise and inventories accumulating in the third quarter—compounded by demand constraints due to substitution by soybean meal—prices are expected to fluctuate at low levels, facing significant resistance to any rebound.

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