SunSirs: China Domestic Rapeseed Prices slightly Increased
July 10 2023 14:25:58 SunSirs (Selena)
According to the monitoring of the Commodity Market Analysis System of SunSirs, the average market price of domestic rapeseed on June 30th was 6,360 RMB/ton, and on July 6th, the average market price of domestic rapeseed was 6,404 RMB/ton, with a price increase of 0.69% during the period. Domestic rapeseed prices have slightly increased this week, mainly driven by the rise in downstream rapeseed oil and meal prices. On June 30th, the USDA area report was positive, with spot prices of oil and vegetable crops rising. Rapeseed consumption is in the off-season and there is limited upward space. The business community believes that domestic rapeseed prices will remain stable after a slight increase.
On July 6th, the Canadian rapeseed futures market on the Intercontinental Exchange (ICE) in Vancouver closed lower, with the benchmark period closing down approximately 0.13%. As of the close, rapeseed futures have fallen by between 1 CAD/ton and 3 CAD/ton, with November futures closing approximately 1 CAD/ton, lower at 762.10 1 CAD/ton; The January period closed approximately 1.50 CAD/ton, lower at 766.40 CAD/ton; The March period closed approximately 1.50 CAD/ton, lower at $770 CAD/ton.
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