According to the monitoring of the Commodity Market Analysis System of SunSirs, the average price of rapeseed oil in the spot market was 9,703 RMB/ton on July 31, and 9,593 RMB/ton on August 4. During this period, the quotation range decreased by 1.13%.

Last week, rapeseed oil prices fell due to weakness. The high level of seed addition has fallen, weakening cost support, and suppressing rapeseed oil prices. The number of imported rapeseed arriving at port has decreased. According to customs data, the domestic import of rapeseed in June was 42,150,000 tons, a significant decrease of 264,800 tons compared to the previous month, and the supply of rapeseed oil has significantly decreased. Oil is in the off-season of demand, and demand for rapeseed oil is limited.

According to the monitoring of the Commodity Market Analysis System of SunSirs, the average market price of soybean oil in Shandong Province was 8308 RMB/ton on July 31, and 8,460 RMB/ton on August 4, with a price increase of 1.83% during the period. On July 31st, the average price of palm oil in the domestic market was 7,548 RMB/ton. On August 4th, the average price of palm oil in the domestic market was 7,674 RMB/ton, with a price increase of 1.67% during the period. This week, soybean oil and palm oil experienced strong fluctuations, while rapeseed oil was weakened and lowered.

Recently, the factors affecting the weather theme have cooled down, and the market is expected to be weak. In the short term, rapeseed oil prices are expected to fluctuate and adjust mainly.

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