SunSirs China Rapeseed oil Market Declined This Week (December 15-21)

According to the monitoring of the commodity market analysis system of SunSirs, the average price of rapeseed oil spot market was 8,253 RMB/ton on December 15th, and 8,178 RMB/ton on December 21st, with a price drop of 0.91% during the period.

The recent weak trend in rapeseed oil market continues. From November to December, it is expected that a large amount of imported rapeseed will arrive at the port, with an increase in the operating rate of oil factories and an increase in rapeseed oil supply. According to customs data, the number of imported rapeseed in November was 481,600 tons, a significant increase of 447200 tons compared to the previous month, indicating an increase in imported rapeseed supply; Due to the low price of rapeseed oil, the market procurement demand has improved, and inventory has shown a downward trend. The strengthening of crude oil has to some extent boosted the oil and fat market, limiting the downward space for rapeseed oil.

According to the monitoring of the commodity market analysis system of SunSirs, the average market price of soybean oil in Shandong Province was 8,210 RMB/ton on December 15th, and the average market price of soybean oil in Shandong Province was 8,150 RMB/ton on December 21st, with a price drop of 0.73% during the period. On December 15th, the average price of palm oil in the domestic market was 7,098 RMB/ton, and on December 21st, the average price of palm oil in the domestic market was 7,104 RMB/ton, with a price increase of 0.08% during this period. The market for soybean oil and rapeseed oil is weak, while palm oil has a slight upward trend.

The quantity of imported rapeseed increased significantly in November, and the supply of rapeseed oil is expected to increase. It is expected that rapeseed oil will mainly fluctuate weakly.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.