According to data from SunSirs, the average market price of rapeseed oil was 10,226 RMB/tonne on August 3 and 10,466 RMB/tonne on August 10, marking an increase of 2.35%.

In the short term, a concentrated arrival of imported rapeseed and a recovery in crushing operations have led to a slight increase in rapeseed oil output; however, overall domestic inventory remains at a historical low, providing a solid floor for prices. Expectations of a bumper rapeseed harvest in Canada are capping long-term prices, while weather fluctuations in growing regions introduce periodic uncertainty.

The market is currently in a distinct off-season for edible oil consumption; supermarkets and the catering sector are purchasing strictly on an as-needed basis, showing little willingness to restock in large volumes. Meanwhile, soybean oil and palm oil offer better value, continuously diverting demand away from rapeseed oil and limiting the potential for further spot price increases. Lacking support from the consumption side at these high price levels, the market has stalled and is trading sideways after its initial rally.

In the short term, rapeseed oil spot prices are likely to continue fluctuating within a high range: low inventory levels provide a firm price floor, limiting the scope for a significant decline, while weak off-season demand caps the potential for further upward movement.

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