SunSirs: China Domestic Rapeseed slightly Increases
March 08 2024 10:53:46 SunSirs (Selena)
According to the monitoring of the commodity market analysis system of SunSirs, the price of domestic rapeseed has recently slightly increased. On March 4th, the average market price of domestic rapeseed was 6,010 RMB/ton, and on March 7th, the average market price of domestic rapeseed was 6,040 RMB/ton, an increase of 0.5%. After the Spring Festival, the domestic rapeseed market remained stable, with a slight increase in recent times. Affected by the cold wave weather before and after the Spring Festival, there are expectations of reduced production of domestic rapeseed, supporting a slight adjustment in the market. In addition, the strong trend of rapeseed oil market after the holiday provides some support for domestic rapeseed. At present, rapeseed is in the off-season of demand, and oil factories have limited procurement of rapeseed, limiting the upward space for domestic rapeseed. In the short term, it is expected that domestic rapeseed will remain stable, with limited room for upward adjustment.
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