SunSirs: Rapeseed oil prices fluctuated and fell this week (11.17-11.23)

According to the monitoring of the Commodity Market Analysis System of SunSirs, the average price of rapeseed oil in the spot market was 8,688 RMB/ton on November 17th, and 8,585 RMB/ton on November 23rd. During this period, the quotation range decreased by 1.19%.

This week's rapeseed oil market fluctuated and fell. Currently, we are in the export season of rapeseed from Canada and Australia, and it is expected that there will be a significant increase in domestic rapeseed imports, which will increase the expected pressure on domestic rapeseed oil supply. The three major oil and fat inventories are at a high level, and there has been a slight increase in coastal rapeseed oil pickup volume recently, supporting the rapeseed oil market. The recent fluctuations in crude oil prices have affected the oil market.

According to the monitoring of the Commodity Market Analysis System of SunSirs, the average market price of soybean oil in the Shandong region was 8,504 RMB/ton on November 17th. On November 23rd, the average market price of soybean oil in the Shandong region was 8,420 RMB/ton, with a decrease of 0.99% in the quotation range during the period. On November 17th, the average price of palm oil in the domestic market was 7,468 RMB/ton. On November 23rd, the average price of palm oil in the domestic market was 7,424 RMB/ton, with a decrease of 0.59% in the quotation range during the period. This week, the soybean oil and palm oil market fluctuated and fell narrowly. Domestic oil inventories were at a high level, and the trend of rapeseed oil relative to palm oil soybean oil was relatively weak.

It is expected that a large number of imported rapeseed will arrive in Hong Kong one after another, and the pressure on domestic rapeseed oil supply will increase. It is expected that rapeseed oil will mainly operate with weak fluctuations.

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