SunSirs: China Domestic Rapeseed Market Remained Stable temporarily Last Week
December 19 2023 14:07:02 SunSirs (Selena)
According to the monitoring of the commodity market analysis system of SunSirs, the average market price of domestic rapeseed on December 11th was 6,412 RMB/ton, and on December 15th, the average market price of domestic rapeseed was 6,412 RMB/ton, with stable quotations during the period. The weak market of downstream rapeseed oil and rapeseed meal has dragged down the demand for domestically produced rapeseed, and prices are operating under pressure. Due to the gradual reduction of domestic rapeseed market supply, traders have a serious mentality of raising prices. Last week, spot rapeseed oil fell 1.24% and spot rapeseed meal fell 0.84%. It is expected that domestic rapeseed will remain stable, with limited downward space.
On December 14th, it was reported that the Intercontinental Exchange (ICE) rapeseed futures fell for the third consecutive day on Thursday, with the benchmark period closing down about 0.66%.
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