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SunSirs: China's Rapeseed Prices Stabilized Temporarily Last Week (10.26-10.30)

November 03 2020 09:20:55     SunSirs (Linda)

1. Rapeseed market price trend

According to SunSirs monitoring, the average price of rapeseed this week was 6,115 yuan/ton, and the quotation stabilized.

2. Market Analysis

The domestic net rapeseed price in Xinjiang is about 2.9 yuan/500 g; the domestic net rapeseed in Hubei is about 3.00-3.2 yuan/500 g; the price in Anhui is about 3.02-3.15 yuan/500 g; the Jiangsu area is 2.95-3.1 yuan/500 About g; about 3.2 yuan/500 g in Jiangxi area. The downstream market is able to take the goods at a reasonable speed, and the market supply is not much, mainly supporting the high price of rapeseed.
In terms of imported rapeseed, according to customs data, in September 2020, domestic imports of rapeseed were 270,300 tons, an increase of 102.32% month-on-month and an increase of 67.9% year-on-year; from January to September, the cumulative import of rapeseed was 2,170,400 tons, a year-on-year increase. 12.93%. In addition, in September, the imported rape oil was 194,400 tons, a year-on-year increase of 51.9%; from January to September, the cumulative import was 1.4219 million tons, a year-on-year increase of 28.51%.

According to SunSirs monitoring, the average price of rapeseed oil in early October was 9,415 yuan/ton, and the average price on October 29 was 9,960 yuan/ton, an increase of 5.79%; the average price of rapeseed meal in East China earlier this month was 2310 yuan/ton, and the average price at the end of the month was 2,430 yuan/ton. Tons, up 5.19%.

3. Outlook

The supply of domestic rapeseed market continues to decrease. SunSirs rapeseed analysts predict that rapeseed prices may rise steadily.

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