SunSirs: Due to the Impact of El Nino Weather, Rapeseed Meal and Rapeseed Oil continue to Rise in China
July 17 2023 09:58:10 SunSirs (Selena)
According to the monitoring of the Commodity Market Analysis System of SunSirs, the average market price of rapeseed meal on July 7th was 3,761 RMB/ton, and on July 13th, the average market price of rapeseed meal was 3,860 RMB/ton, with an increase of 2.61% during the period. On July 7, the average price of Rapeseed oil in the Spot market was 9,566 RMB/ton, and on July 13, the average price of Rapeseed oil in the Spot market was 9,951 RMB/ton, with the quotation rate rising 4.02%.
On the supply side, July October is a period of global rapeseed supply shortage, with the quantity of imported rapeseed gradually decreasing and the supply of rapeseed oil and meal expected to decrease. The impact of El Nino weather led to concerns about rapeseed production reduction in Canada and Australia, and weather factors disturbed the spot price of rapeseed meal and oil, which continued to rise. On the demand side, in terms of rapeseed meal, aquaculture is in the peak season of demand, and the market is selling well. The demand for rapeseed meal is still acceptable. In terms of vegetable oil, the school has already been on vacation, and the demand for oil is in the off-season. Affected by the El Nino weather theme, several parts of the world are experiencing high temperatures and droughts, and rapeseed production areas are expected to reduce production. In the short term, rapeseed meal and oil may experience a strong trend of volatility.
If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.
- 2024-04-28 SunSirs: China Rapeseed Meal Rose Last Week (April 22-26)
- 2024-04-25 SunSirs: Reduced Rapeseed Production in Europe, Rapeseed Oil Prices are Rising
- 2024-04-23 SunSirs: China Rapeseed Oil Oscillates weakly (April 12-18)
- 2024-04-19 SunSirs: Insufficient Support, China Rapeseed Meal Rose first and then Fell
- 2024-04-15 SunSirs: China Rapeseed Meal Fluctuated narrowly Last Week (April 7-12)
