SunSirs: Domestic Spot Prices of Rapeseed Oil Rose on September 21
September 22 2022 10:07:06 SunSirs (John)
Price trend
According to the monitoring data of SunSirs, the average spot market price of rapeseed oil on September 21 was 12,700 RMB/ton, an increase of 0.52% from the previous trading day and a year-on-year increase of 13.54%.
Analysis review
On the 21st, rapeseed oil futures on Zhengzhou Commodity Exchange rose 2.71%, and the spot price of rapeseed oil rose. According to statistics, China's rapeseed oil imports in August fell sharply by 59.92% year-on-year, and China's rapeseed imports in August fell sharply by 66% year-on-year. The output of rapeseed oil was limited, and domestic rapeseed oil stocks remained low, which supported the rise of rapeseed oil prices. Affected by the domestic epidemic, the consumption of rapeseed oil is limited. The global rapeseed production will reach a record 83.144 million tons, an increase of 9.278 million tons year-on-year.
Market outlook
The supply of rapeseed oil is expected to increase in the later period, and the upside of rapeseed oil is expected to be limited.
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