SunSirs: Good Supply, China Rapeseed Oil is Expected to Fluctuate weakly
April 12 2024 14:21:58 SunSirs (Selena)
According to the monitoring of the commodity market analysis system of SunSirs, the average price of rapeseed oil spot market was 8,145 RMB/ton on April 1st, and the average price of rapeseed oil spot market was 8,253 RMB/ton on April 11th, with a price increase of 1.33% during the period.
Starting from April, the domestic rapeseed oil market has had relatively small fluctuations, showing a general trend of a slight increase before the holiday and a narrow decline after the holiday. The reason for the slight increase before the holiday is that the pre holiday market has a good stocking sentiment, and the sales of rapeseed oil are still good. The demand side slightly supports the rapeseed oil market. On the supply side, due to the profit margin of oil factories from squeezing rapeseed, the operating rate of oil factories will increase, and the supply of rapeseed oil will be loose. The supply side is under pressure, and the upward space for rapeseed oil is limited. After the holiday, the rapeseed oil market has experienced a narrow decline, and the market volatility is currently not significant.
As imported soybeans continue to arrive at ports in the later stage and palm oil production areas enter a production cycle, there is insufficient action on oil production. In terms of rapeseed oil supply, it is expected to increase. In addition, coastal rapeseed oil inventories remain stable and high, and the supply side is loose. In the short term, it is expected that rapeseed oil will fluctuate weakly and operate mainly.
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