SunSirs: Decreased Demand, the Rapeseed Meal Market is Declining in China
September 15 2023 10:29:29 SunSirs (Selena)
According to the monitoring of the Commodity Market Analysis System of SunSirs, the average market price of rapeseed meal on September 5th was 4,033 RMB/ton, and on September 13th, the average market price of rapeseed meal was 3,901 RMB/ton, with a decrease of 3.26% during the period.
Recently, the market for rapeseed meal has been continuously declining. The import of rapeseed has significantly decreased, and the supply pressure of rapeseed meal has weakened; But as the weather turns cooler and the aquaculture season ends, the demand side's enthusiasm for purchasing rapeseed meal decreases, rigid demand weakens, and rapeseed meal inventory is at a relatively high level during the same period, suppressing the weakening of the rapeseed meal market. Canadian rapeseed has entered the harvest period, and seasonal supply pressure has increased. The Inter Continental Exchange (ICE) Canadian rapeseed futures market is weak, which has a certain degree of pressure on the domestic rapeseed meal market.
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 September 5th was 4,926 RMB/ton, and on September 13th, the average market price of soybean meal was 4,790 RMB/ton, with a decrease of 2.76% during the period. The soybean meal market has fluctuated and fallen with the external market, and the rapeseed meal market has been suppressed.
The demand for aquaculture is gradually weakening, dragging down the market for rapeseed meal. With the arrival of the off-season of rapeseed meal demand, it is expected that rapeseed meal will mainly fluctuate and operate weakly.
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