SunSirs: Rapeseed Meal Price Was Adjusted Narrowly (February 20-24)
February 27 2023 13:13:00 SunSirs (John)
Price trend
According to the monitoring of SunSirs, the average market price of rapeseed meal was 3,408 RMB/ton on February 20 and 3,412 RMB/ton on February 24, with an increase of 0.12% during the period, and 0.18% higher than that on February 1.
Analysis review
The price of rapeseed meal was adjusted in a narrow range this week. A large number of imported rapeseed arrived at the port, the operating rate of oil plants rose sharply, and the supply of rapeseed meal was expected to increase. According to statistics, from November to December 2022, China imported 1.0216 million tons of rapeseed, an increase of 96.24% year on year; The cumulative import of rapeseed meal was 310,000 tons, up 7.38% year on year. Aquaculture was in the off-season of demand, depressing the market of rapeseed meal. Due to the large price difference between soybean and rapeseed meal, the substitution advantage of rapeseed meal was obvious, and the proportion of rapeseed meal added in ruminant feed was relatively increased, which boosted the market of rapeseed meal.
In terms of soybean meal: according to the monitoring of SunSirs, the average market price of soybean meal was 4,522 RMB/ton on February 20, and 4,494 RMB/ton on February 24, with a decline of 0.62% during the period. It was 3.31% lower than February 1. The decline of soybean meal market this week had a certain negative impact on the market of rapeseed meal, and depressed the market of rapeseed meal.
Market outlook
The supply of rapeseed meal was expected to increase, and aquaculture will resume in April. The market of soybean meal this week was weak, and the price of rapeseed meal is expected to fluctuate and adjust in the short term..
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