SunSirs: The Spot Price of Domestic Rapeseed Oil Fell on September 7
September 08 2022 11:04:13 SunSirs (Selena)
According to the monitoring data of SunSirs, the spot price of rapeseed oil on September 7 was 12,666 RMB/ ton, down 1.06% from the previous trading day, up 14.01% year-on-year.
On September 7, rapeseed oil futures fell by 3.57%, and the spot price of rapeseed oil fell accordingly. Canada's rapeseed production will recover in the new season, and the tight supply and demand situation of global rapeseed and rapeseed oil is expected to be alleviated. According to statistics, the global rapeseed production in 2022/2023 will reach a record 74.4 million tons, 900,000 tons higher than the forecast value in August, which will depress the rapeseed price. Boosted by Festival demand, there is limited room for rapeseed oil to fall. The price of palm oil and soybean oil fell, dragging down the market of rapeseed oil. It is expected that the trend of rapeseed oil may be weak in China.
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