SunSirs: The Price of Rapeseed Meal Continues to Decrease after the National Day Holiday
October 13 2023 13:56:58 SunSirs (Selena)
According to the monitoring of the Commodity Market Analysis System of SunSirs, the average market price of rapeseed meal on October 1st was 3,791 RMB/ton, and on October 12th, the average market price of rapeseed meal was 3,451 RMB/ton, with a decrease of 8.97% during the period.
After the National Day holiday, the price of rapeseed meal continued to decline due to its weak performance. In October, imported rapeseed gradually arrived in Hong Kong, with an increase in rapeseed supply and an expected increase in rapeseed meal output. The fourth quarter is the off-season for aquaculture, and the market demand for rapeseed meal has decreased, dragging down the market for rapeseed meal. American beans have been listed one after another, increasing supply pressure, and the domestic meal market trend is not good. Against the backdrop of the off-season consumption of rapeseed meal, it is expected that rapeseed meal will mainly fluctuate weakly.
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 October 1st was 4,600 RMB/ton, and on October 12th, the average market price of soybean meal was 4,264 RMB/ton, with a decrease of 7.30% during the period. American soybeans have been listed one after another, with bearish external markets leading the way. The soybean meal market has weakened and decreased, while rapeseed meal has followed suit.
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