According to the monitoring of the commodity market analysis system of SunSirs, the average price of rapeseed oil spot market was 8,398 RMB/ton on May 1st, and 8,945 RMB/ton on May 29th, an increase of 6.51%.

In late April, European rapeseed suffered from the "late spring cold" weather, causing concerns about a reduction in European rapeseed production; Ukrainian rapeseed is affected by frost; Causing concerns about reduced international rapeseed production, supporting the domestic rapeseed oil market. During the May Day holiday, due to adverse weather conditions, the foreign soybean market rose strongly, and with the return of the holiday, the price of rapeseed oil also rose accordingly. The continuous rainfall in the main rapeseed producing areas of Canada has led to a slow planting speed of new rapeseed, supporting price increases and increasing the cost of imported rapeseed, which is beneficial for the rise in rapeseed oil prices.

Imports: In April, the domestic imported rapeseed quantity was 470,800 tons, a significant increase of 25.05% compared to the previous month. In addition, new rapeseed seeds were gradually launched in China, and the operating rate of oil factories was at a high level. There were expectations of an increase in the supply of rapeseed oil, and the supply of rapeseed oil was expected to be loose. Oil is in the off-season of demand, with limited market demand, limiting the increase in rapeseed oil prices.

There is sufficient supply of imported rapeseed for domestic buyers, and the domestic rapeseed oil supply is expected to be loose; Oil is in the off-season of demand, and it is expected that rapeseed oil will operate weakly with fluctuations. In the later stage, more attention should be paid to the weather conditions in the international rapeseed production areas.

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