SunSirs: Good Report, China Rapeseed Meal Price Rises
September 15 2022 11:08:04 SunSirs (Selena)
According to the monitoring of SunSirs, the average market price of rapeseed meal was 3,906 RMB/ ton on September 14, and 3,706 RMB / ton on September 9, up 5.4%.
On September 13, Zhengzhou rapeseed meal rose 6.89%, and the spot rapeseed meal rose. The USDA report in September was positive, and the spot market of rapeseed meal rose sharply; The number of imported rapeseed is low, and the output of rapeseed is limited, but the import of rapeseed is at a high level in the same period; The rigid demand for rapeseed meal remains; In 2022/2023, the global rapeseed output will reach a record 74.4 million tons, and the supply of rapeseed meal may increase significantly, which will depress the price of rapeseed meal. In terms of soybean meal, the spot soybean meal rose by more than 4% on a single day on September 13. Under the expectation of global rapeseed production increase, the upward space of rapeseed prices is expected to be limited.
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