SunSirs: Narrow Range Fluctuation of Rapeseed Meal in December 2023

According to the monitoring of the commodity market analysis system of SunSirs, the average market price of rapeseed meal on December 1st was 3,006 RMB/ton, and on December 29th, the average market price of rapeseed meal was 2,971 RMB/ton, with a decrease of 1.16% during the period.

In December, the rapeseed meal market fluctuated narrowly, with a significantly smaller downward trend compared to November. As the end of the year approached, the rapeseed meal market showed a slight upward trend. Affected by the delayed unloading of imported soybeans in the first half of the month, domestic meal products were boosted, and the rapeseed meal market rebounded slightly. It is expected that a large amount of imported rapeseed will gradually arrive at the port, the operating rate of oil factories will increase, and the supply of rapeseed meal is expected to be loose. Aquaculture is in the off-season, and the rigid demand for rapeseed meal is weakening. The price difference of soybean and rapeseed meal is at a high level, and rapeseed meal has a certain substitution advantage, which to some extent supports the rapeseed meal market.

In terms of soybean meal: According to the monitoring of the commodity market analysis system of SunSirs, the average market price of soybean meal on December 1st was 3,942 RMB/ton, and on December 29th, the average market price of soybean meal was 3,962 RMB/ton, with an increase of 0.51% during the period. In December, the overall soybean meal market showed an upward trend, while the rapeseed meal market was boosted.

Approaching the end of the month, the price of rapeseed meal has slightly increased, and feed companies have low inventory levels. There is a sentiment of replenishing inventory, which is beneficial for the rapeseed meal market; The demand for rapeseed meal in the fourth quarter is in the off-season, and the supply of rapeseed meal is expected to be sufficient. It is expected that rapeseed meal will mainly fluctuate weakly, with limited upward space.

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