SunSirs: China Domestic Rapeseed Oil Prices Fell in a Narrow Range

According to the monitoring data of SunSirs, the average price of rapeseed oil in the spot market was 12,664 RMB/ton on December 19 and 12,624 RMB/ton on December 23, respectively. The quotation fell 0.32% during the period, 3.63% lower than that on December 1.

Rapeseed oil prices fell slightly last week. Since December, the spot price of rapeseed oil has continued to operate in a weak way, with a narrow decline in recent shocks. A large number of imported rapeseed have arrived in Hong Kong, the operating rate of oil plants has rebounded, and the supply of rapeseed oil is expected to increase. According to statistics, the arrival of imported rapeseed in December is expected to be 600,000 tons. New Year's Day and Spring Festival are approaching, and the market stock is gradually starting; However, due to the impact of domestic public events, oil consumption is not good.

According to the monitoring of SunSirs, the average market price of soybean oil in Shandong Province was 9,260 RMB/ton on December 19 and 8,970 RMB/ton on December 23, down 3.13% and 11.63% compared with December 1. On December 19, the average price of palm oil in the domestic market was 7,648 RMB/ton, and on December 23, the average price of palm oil in the domestic market was 7,540 RMB/ton, down 1.41%, down 12.35% compared with December 1. Since December, under the pressure of negative factors, the three major domestic oils and fats have shown a weak downward trend.

The imported rapeseed keeps arriving in Hong Kong, the operating rate of oil plants increases, and the supply of rapeseed is expected to increase; Supported by the purchase and storage of rapeseed oil, the price of rapeseed oil is supported to a certain extent. Bad factors dominate. The rapeseed oil analysts of SunSirs predict that the spot rapeseed oil may tend to be volatile and weak.

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