1. Price Trend

According to data from SunSirs, the average price of East China rapeseed on November 27 is 2,240 RMB/ ton, and the offer is temporarily stable.

2. Market Analysis

The price of domestic rapeseed mainly fluctuates. Domestic rapeseed inventory is low, supporting rapeseed meal prices increasing. Entering winter, aquaculture goes into the off-season, suppressing demand for rapeseed meal. The decline in US soybeans also drags the domestic rapeseed prices.

As domestic rapeseed is consumed over time, the market supply is reduced. The domestic rapeseed price mainly operates at a high level. The reduction of rapeseed production in the coming year has become a foregone conclusion, supporting domestic rapeseed prices to increase. Customs data show that China has imported 64,478 tons of rapeseed from Canada in October, a decrease of nearly 80% from the same period last year and a 45% decrease on year-on-year basis.  In terms of total rapeseed imports, 130,000 tons were imported in October, a decrease of 18.63% month-on-month and a decrease of 61.44% year-on-year.

3. Market Forecasting

SunSirs' analysts on rapeseed predict that rapeseed will be sideways in the short period of time.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com