According to the monitoring of the commodity market analysis system of SunSirs, the average price of rapeseed oil spot market was 8,740 RMB/ton on May 17th, and 8,848 RMB/ton on May 23rd, an increase of 1.24%.

Last week, the rapeseed oil market rose. The improvement of the external macro level has boosted the domestic rapeseed oil market. Supported by the cost factor of rapeseed, coupled with the expected decrease in rapeseed production in Europe, the continuous fermentation of the bullish market will drive up the domestic rapeseed oil market. In April, the number of imported rapeseed in China increased month on month, and with the gradual launch of new rapeseed in China, the operating rate of oil plants is at a high level. There is an expectation of an increase in rapeseed oil supply, and the expectation of loose rapeseed oil supply limits the upward space for rapeseed oil. Oil is in the off-season of demand, and the market demand is limited.

Internationally, Canadian and Australian rapeseed are currently in the planting period, and under the influence of weather conditions, there are signs of global rapeseed production reduction, supporting the domestic rapeseed oil market; However, there is sufficient supply of imported rapeseed on board, and the domestic rapeseed oil supply is expected to be loose; Oil is in the off-season of demand; In the short term, rapeseed oil is expected to fluctuate and operate at a high level.

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