SunSirs: Weak Demand, China Rapeseed Meal may Fluctuate Down

https://www.chemnet.com   Oct 27,2022 SunSirs

　　According to the monitoring of SunSirs, the average market price of rapeseed meal was 4,162 RMB/ ton on October 26 and 4,238 RMB/ ton on October 1, down 1.78%.

　　Rapeseed meal rose and fell with each other in October, showing a narrow range of concussion and decline on the whole, and a significant downward trend in the second half of the month. The delay in the arrival of domestic imported rapeseed in Hong Kong has reduced the output of rapeseed meal, supporting the increase of rapeseed meal price. USDA lowered its estimate of US soybean production, which is good for the market of meal. In the second half of the month, the rapeseed market weakened significantly, and the price declined. It is expected that a large number of imported rapeseed will arrive in Hong Kong in the middle and late November, and aquaculture will gradually enter the off-season. The rapeseed spot is under pressure. The operating rate of domestic oil plants continued to decline, and the rapeseed meal inventory fell to a low point, boosting the price of rapeseed meal.

　　According to the monitoring of SunSirs, the average market price of soybean meal was 5,386 RMB/ ton on October 26 and 5,128 RMB/ ton on October 1, up 5.03%. In the second half of October (10.17-10.26), the price of soybean meal fell 0.92%. Rapeseed meal was greatly affected by soybean meal, and it was weakened by soybean meal market in the second half of the month in China.

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