SunSirs: China Rapeseed Oil Rose Last Week (March 11-15)
March 19 2024 15:38:27 SunSirs (Selena)
According to the monitoring of the commodity market analysis system of SunSirs, the average price of rapeseed oil spot market was 8,186 RMB/ton on March 11th, and the average price of rapeseed oil spot market was 8,308 RMB/ton on March 15th, with a price increase of 1.49% during the period.
Recently, the price trend of rapeseed oil has continued to rise, mainly driven by the rise in palm oil prices. From early March to March 14th, palm oil rose 7.27%, followed by rapeseed oil. In terms of rapeseed oil, the profit from imported rapeseed pressing continues to be good, and it is expected that the quantity of imported rapeseed will be large in the later stage. In addition, the demand for rapeseed oil is in the off-season after the holiday, and the fundamentals of rapeseed oil are poor. It is expected that the upward space will be limited due to the boost of brown oil.
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