SunSirs: China Rapeseed Oil Oscillates weakly (April 12-18)
April 23 2024 14:56:27 SunSirs (Selena)
According to the monitoring of the commodity market analysis system of SunSirs, the average price of rapeseed oil spot market was 8,103 RMB/ton on April 12th, and 8,031 RMB/ton on April 18th, with a decrease of 0.88% in the quotation range during this period.
Recently, rapeseed oil has been operating weakly with a narrow range of fluctuations. Due to slow customs clearance of rapeseed in some regions and the shutdown and maintenance of some oil factories, the domestic rapeseed crushing volume of domestic oil factories is not high, which has made the rapeseed oil market relatively resistant to decline. At present, the customs clearance problem is gradually easing. With the arrival of imported rapeseed at the port in the later stage, the pressing volume is gradually increasing, and the supply of rapeseed oil is increasing. The demand for rapeseed oil is in the off-season, with weak performance on the demand side and downstream demand for on-demand purchases, resulting in low purchasing sentiment.
Imported soybeans and rapeseed are gradually arriving at the port, and the oil supply is expected to be loose. The demand side support is insufficient, and it is expected that rapeseed oil will mainly operate with weak fluctuations.
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