SunSirs: Positive Support, China Rapeseed Meal Prices was rising
August 14 2023 14:39:46 SunSirs (Selena)
According to the monitoring of the Commodity Market Analysis System of SunSirs, the average market price of rapeseed meal on August 1st was 3,873 RMB/ton, and on August 11th, the average market price of rapeseed meal was 3,965 RMB/ton, with an increase of 2.37% during the period.
Since August, the market for rapeseed meal has been fluctuating and showing a strong trend. The quantity of imported rapeseed is expected to decrease. According to data statistics, in June 2023, China imported 421,500 tons of rapeseed, a decrease of 264,800 tons compared to the previous month. Expected decrease in rapeseed meal output; According to data statistics, as of August 4, 2023, the inventory of rapeseed meal was 17,000 tons, a decrease of 6,400 tons compared to last week. Aquaculture is in the peak demand season, and rapeseed meal is selling well, supporting the rise in rapeseed meal prices. Since August, the soybean meal market has been continuously rising, and the rapeseed meal market has been boosted.
In terms of soybean meal: According to the monitoring of the commodity market analysis system of SunSirs, the average market price of soybean meal on August 1st was 4,444 RMB/ton, and on August 11th, the average market price of soybean meal was 4,682 RMB/ton, with an increase of 5.36% during the period. The delay in unloading domestic imported soybeans is favorable for the rise of soybean meal market, while rapeseed meal follows suit.
As the temperature drops, the demand for aquaculture gradually weakens in the second half of August, and there is limited room for the rise of rapeseed meal. It is expected that the trend of rapeseed meal fluctuation will be mainly strong in the short term, with limited upward space.
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- 2024-04-28 SunSirs: China Rapeseed Meal Rose Last Week (April 22-26)
- 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)
- 2024-04-07 SunSirs: China Rapeseed Meal Market Rebounded weakly, Falling by over 8% in the First Quarter of 2024
- 2024-03-28 SunSirs: The Price of China Rapeseed Meal has been Lowered
