According to the monitoring data of SunSirs, the average price of rapeseed oil in the spot market on November 4 was 13,952 RMB/ ton, and the average price of rapeseed oil in the spot market on November 10 was 14,088 RMB/ ton, with a rise of 0.97% during the period, 5.1% higher than that on October 1.

During November 4-10, the trend of rapeseed oil spot was relatively strong. The main reason is that the domestic rapeseed oil inventory is at a low level, supporting the price of rapeseed oil. According to statistics, as of October 28, the rapeseed inventory of oil plants in coastal areas was 36,000 tons, a decrease of 14,000 tons on a weekly basis, the lowest level in the same period in recent years; The rapeseed oil inventory was 6,400 tons, a decrease of 2,200 tons on a weekly basis, the lowest level in recent years. The inventory of imported rapeseed oil in East China was only 86,600 tons, down 12,400 tons on a weekly basis, also at a historical low. Affected by public events, the demand for oil is weak, which depresses the price of rapeseed oil. The price of rapeseed oil is at a high level, and the market procurement is mainly based on rigid demand.

According to the monitoring of SunSirs, the average market price of soybean oil in Shandong Province was 10,534 RMB/ ton on November 4 and 10,039 RMB/ ton on November 10, down 4.69%. On November 4, the average price of palm oil in the domestic market was 8,618 RMB/ ton, and on November 10, the average price of palm oil in the domestic market was 8,302 RMB/ ton, down 3.67%. Foreign futures dragged down, and domestic futures prices fell with the market; Demand level: The demand for terminal catering is sluggish, and the market for soybean oil and palm oil is declining. Among the oils, rapeseed oil is supported by tight supply and has a strong trend.

In November, the quantity of rapeseed oil in Qianjin was relatively small, and the domestic rapeseed oil inventory was at a low level in recent years. Before the arrival of a large number of rapeseed in Hong Kong, it is hard to change the tight supply pattern of domestic rapeseed oil, and boosted by rumors of market collection and storage. Rapeseed oil analysts of SunSirs predict that in the short term, the trend of rapeseed oil will to be more volatile in China.

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