SunSirs: Weak Decline in China Rapeseed Meal This Week (November 17-24)
November 24 2023 14:20:47 SunSirs (Selena)
According to the monitoring of the Commodity Market Analysis System of SunSirs, the average market price of rapeseed meal on November 17th was 3,198 RMB/ton, and on November 23rd, the average market price of rapeseed meal was 3,108 RMB/ton, with a decrease of 2.81% during the period.
This week, the price of rapeseed meal continued to be weak. Aquaculture has entered the off-season of demand, and the rigid demand for rapeseed meal used for aquaculture feed production has weakened. The procurement pace has slowed down, which is negative for the rapeseed meal market. During the rapeseed export season from Canada and Australia, market supply pressure is increasing. It is expected that a large number of imported rapeseed will arrive in Hong Kong, with sufficient supply of rapeseed and loose supply of rapeseed meal. The price difference of soybean and rapeseed meal is at a high level, and the advantage of rapeseed meal substitution is obvious, which is beneficial to the rapeseed meal market and limits the downward space of rapeseed meal.
There is currently a lack of effective positive drivers for supply and demand, and it is expected that rapeseed meal will mainly operate with weak fluctuations.
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- 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
- 2024-03-22 SunSirs: Positive Support, China Rapeseed Meal Continues to Rise
