SunSirs: China Rapeseed Meal Fluctuated narrowly Last Week (April 7-12)
April 15 2024 15:12:05 SunSirs (Selena)
According to the monitoring of the commodity market analysis system of SunSirs, the average market price of rapeseed meal on April 7th was 2,743 RMB/ton, and on April 12th, the average market price of rapeseed meal was 2,751 RMB/ton, with an increase of 0.30% during the period.
Last week, the rapeseed meal fluctuated narrowly. The weather is gradually warming up, the demand for aquaculture is gradually improving, and the inventory of rapeseed meal in oil factories has decreased; In addition, the price difference of soybean and rapeseed meal is at a high level, and the substitution effect of rapeseed meal is obvious. The demand side is favorable for the rapeseed meal market, supporting the rise of the rapeseed meal market. The profit margin of oil mills can still be increased by purchasing rapeseed boats, and the operating rate of oil mills will be improved, resulting in increased pressure on rapeseed meal supply. On the other hand, as imported soybeans continue to arrive in Hong Kong in the later stage, soybean meal may operate weakly, which is detrimental to the market for rapeseed meal. In the short term, it is expected that the demand side will boost the trend of rapeseed meal, which may fluctuate slightly.
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