1. Price Trend

According to data from SunSirs, the average price of rapeseed oil on November 27 is 7,900 RMB/ton, an increase by 0.32 %% from the previous day.

2. Market Analysis

The domestic rapeseed oil fluctuates strongly. The import of rapeseed decreases, which boosts the price of rapeseed oil and reduces the domestic rapeseed oil inventory. Rapeseed oil market demand is light.

As domestic rapeseed is consumed over time, the market supply is reduced. The domestic rapeseed price mainly operates at a high level. The reduction of rapeseed production in the coming year has become a foregone conclusion, supporting domestic rapeseed prices to increase. Customs data show that China has imported 64,478 tons of rapeseed from Canada in October, a decrease of nearly 80% from the same period last year and a 45% decrease on year-on-year basis.  In terms of total rapeseed imports, 130,000 tons were imported in October, a decrease of 18.63% month-on-month and a decrease of 61.44% year-on-year.

3. Market Forecasting

Affected by the China-Canada relationship, the import of rapeseed is limited, and the analyst of the rapeseed oil in SunSirs predicts that rapeseed oil price may be mainly strong.

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