SunSirs: China Rapeseed oil Continued to Fluctuate and Decline (December 8-14)
December 15 2023 14:06:26 SunSirs (Selena)
According to the monitoring of the commodity market analysis system of SunSirs, the average price of rapeseed oil spot market was 8,316 RMB/ton on December 8th, and the average price of rapeseed oil spot market was 8,253 RMB/ton on December 14th, with a price drop of 0.76% during the period.
The weakening of international crude oil prices has dragged down domestic oil and rapeseed oil prices. In the fourth quarter, it is expected that a large amount of imported rapeseed will arrive at the port, and the operating rate of oil factories will increase. The supply of rapeseed oil is expected to be loose; High oil inventory and weak demand for oil consumption. Market bearish factors have suppressed the trend, with the rapeseed oil market continuing to be weak.
According to the monitoring of the commodity market analysis system of SunSirs, the average market price of soybean oil in Shandong Province was 8,270 RMB/ton on December 8th, and the average market price of soybean oil in Shandong Province was 8,176 RMB/ton on December 14th, with a price drop of 1.14% during the period. On December 8th, the average price of palm oil in the domestic market was 7,102 RMB/ton, and on December 14th, the average price of palm oil in the domestic market was 7,048 RMB/ton, with a decrease of 0.76% in the quotation range during this period. Oil supply is loose, and prices are weak.
The supply of rapeseed oil is expected to be loose, with rapeseed oil expected to fluctuate weakly and operate mainly.
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