SunSirs: The Price of Rapeseed Meal Fell Weakly This Week (February 13-17)
February 20 2023 13:35:49 SunSirs (John)
Price trend
According to the monitoring of SunSirs, the average market price of rapeseed meal was 3,442 RMB/ton on February 13 and 3,402 RMB/ton on February 17, with a decline of 1.16% during the period, and 0.12% lower than that on February 1.
Analysis review
This week, rapeseed meal showed a weak decline. A large number of imported rapeseed had arrived at the port, the oil plant had started up sharply, and the rapeseed meal supply was expected to increase. Aquaculture was in the off-season of demand, depressing the market of rapeseed meal. However, after the festival, there was a demand for replenishment at the breeding terminal, and the price difference of soybean meal and rapeseed meal was large, and the rapeseed meal substitution advantage was obvious, boosting the market of rapeseed meal.
In terms of soybean meal: according to the monitoring of SunSirs, the average market price of soybean meal was 4,606 RMB/ton on February 13, and 4,522 RMB/ton on February 17, with a decline of 1.82% during the period. It was 2.80% lower than the price on February 1. The decline of soybean meal market this week had a certain negative impact on the market of rapeseed meal, dragging down the price of rapeseed meal.
Market outlook
The supply of rapeseed meal is expected to increase, aquaculture is in the off-season, and the soybean meal market is weak. It is expected that the price of rapeseed meal will mainly fluctuate to be weaker in the later period.
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