According to the monitoring of the commodity market analysis system of SunSirs, the average price of rapeseed oil spot market on January 1st was 8,180 RMB/ton, and on January 5th, the average price of rapeseed oil spot market was 7,948 RMB/ton, with a price drop of 2.83% during the period. On January 1st, the average market price of rapeseed meal was 2,971 RMB/ton, and on January 5th, the average market price of rapeseed meal was 2,895 RMB/ton, with a decrease of 2.58% during the period.

Last week, the market for rapeseed meal was weak. In the fourth quarter of 2023, the quantity of imported rapeseed and rapeseed oil increased significantly. In addition, the expected quantity of imported rapeseed in the first quarter of 2024 is still relatively high, and the supply is expected to be sufficient. Currently, rapeseed oil inventories are at a high level, and downstream demand is showing a sluggish situation during the peak season. On the other hand, the expected increase in soybean yields in South America has continued to put pressure on the supply side of oil and fat crops, dragging down the market for rapeseed meal. The pressure on vegetable oil supply is relatively high, and it is expected to operate with weak fluctuations. In terms of rapeseed meal, the quantity of imported rapeseed is sufficient, and the supply of rapeseed meal is expected to increase. Aquaculture is in the off-season of demand, and it is expected that the trend of rapeseed meal will be mainly narrow and weak, influenced by fluctuations in the soybean meal market.

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