SunSirs: Light Demand, Rapeseed Prices Was Slightly Lowered in April
May 04 2023 11:02:51 SunSirs (John)
Price trend
According to the monitoring of the Commodity Market Analysis System of SunSirs, the average market price of domestic rapeseed on April 1st was 7,196 RMB/ton. On April 27th, the average market price of domestic rapeseed was 7,160 RMB/ton, with a decrease of 0.50% in the quotation during this period.
Analysis review
Rapeseed entered the traditional off-season, and the enthusiasm of oil factories for procurement was not high. Market demand was weak, and traders were slow to sell, and the quotations were mainly strong. From May to June, new rapeseed is about to be launched one after another, and there is a strong wait-and-see sentiment in the market. Yunnan rapeseed was launched sporadically with relatively few quotations.
On April 26th, Canadian rapeseed futures on the Intercontinental Exchange (ICE) closed with mixed gains and losses. As of the close, rapeseed futures fell by 9.80 CAD to rose 12.90 CAD, with May futures closing approximately 9.80 CAD lower at 755 CAD per ton; The July futures contract closed 8.50 CAD higher at 734.90 CAD/ton; The November futures contract closed higher by 8.30 CAD at 703.30 CAD per ton.
Market outlook
In April, the price of rapeseed oil weakened in shock, while the price of rapeseed meal slightly increased in shock. The supply of domestic rapeseed was tight, and market transactions were light. Before the launch of new rapeseed, there was a strong wait-and-see sentiment in the market SunSirs rapeseed analysts expect that domestic rapeseed may remain strong mainly.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com
- 2024-04-26 SunSirs: Weakness and Decline in China Domestic Rapeseed Prices
- 2024-04-23 SunSirs: China Domestic Rapeseed Prices Declined (April 15-19)
- 2024-04-15 SunSirs: China Domestic Rapeseed Prices Remain Stable Last week (4.7-4.12)
- 2024-04-09 SunSirs: China Actual Shipment of Imported Rapeseed was 330,600 tons during March 16-31, 2024
- 2024-04-09 SunSirs: CGC Data Shows that approximately 420,000 tons Rapeseed Delivered by Farmers as The Week Ending March 31st
