SunSirs: Chinese Rapeseed Prices Fell on April 12
April 13 2021 08:13:26 SunSirs (Linda)
1. Rapeseed market price trend
On April 12, the average price of rapeseed was 6,105 yuan/ton, and on April 5, the average price of rapeseed was 6,390 yuan/ton, and the quotation dropped by 4.46%.
2. Market analysis
The domestic net rapeseed price in Hubei area is 3.2 yuan/500g; the price in Anhui area is 2.98-3.3 yuan/500g; the Jiangsu area is 2.83-2.85 yuan/500g; the Sichuan area is 3.05 yuan/500g. The domestic rapeseed market did not sell well, and the quotations continued to be weak.
Data released by the National Grain and Oil Information Center on April 8 showed that my country's new rapeseed supply in 2020/21 is predicted to be 16.75 million tons, an increase of 950,000 tons over the same period last year, of which domestic rapeseed production is 13.95 million tons and imports are 2.8 million tons. Rapeseed oil consumption was 15.75 million tons, a year-on-year increase of 650,000 tons, including 12.95 million tons of domestic rapeseed and 2.8 million tons of imported rapeseed. The annual supply and demand balance of rapeseed is 20,000 tons.
The monthly report issued by the Strategic Grain Company shows that the rapeseed production of the 27 EU countries in 2021/22 is expected to be 16.8 million tons, which is 250,000 tons or 1.5% lower than the earlier forecast of 17.05 million tons, but still higher than the output in 2020/21. 16.25 million tons increased by 3.4%.
3. Market outlook forecast
Rapeseed products are slow, but the market supply is tight. Rapeseed analysts of the business community predict that prices may continue to fall within a narrow range.
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