SunSirs: Rapeseed Meal Continues to Run Weakly in China
December 23 2022 10:09:00 SunSirs (Selena)
According to the monitoring of SunSirs, the average market price of rapeseed meal was 3,394 RMB/ton on December 16 and 3,308 RMB/ton on December 21, with a decline of 2.53% during the period, 7.36% lower than that on December 1.
Domestic rapeseed meal continued to be weak this week. In terms of supply, a large number of imported rapeseed have arrived in Hong Kong, and the rapeseed supply is sufficient. The operating rate of oil plants has rebounded, and the output of rapeseed is expected to increase in the later period. In terms of demand, the weather is cooling, the feeding of aquaculture is weakening, the rapeseed meal ushers in the traditional off-season, and the demand for rapeseed meal falls seasonally. The price difference of soybean and rapeseed meal is large, and the substitution demand of rapeseed meal is obvious, which supports the price of rapeseed meal to a certain extent. There are many negative factors, mainly the price of rapeseed meal has been continuously lowered.
In terms of soybean meal: According to the monitoring of SunSirs, the average market price of soybean meal was 4,734 RMB/ton on December 16 and 4,724 RMB/ton on December 21, with a decrease of 0.21%. It was 6.01% lower than that on December 1. Soybean meal market fell slightly this week and rebounded slightly on Thursday.
A large number of imported rapeseed have arrived in Hong Kong, and the demand for rapeseed meal has weakened. According to the analysis of rapeseed meal by SunSirs, it is expected that the rapeseed meal will operate mainly in a weak and volatile way, and it is also necessary to pay attention to the changes in soybean meal market.
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