According to the monitoring data of SunSirs, the average price of rapeseed oil in the spot market was 14,088 RMB/ ton on November 10 and 13,564 RMB/ ton on November 22, respectively, with a decline of 3.72% during the period, 4.08% higher than that on September 1.

During the period from November 10 to November 22, rapeseed oil spot first fluctuated and then declined. Rapeseed oil is mainly supported by low inventory in the early stage, and the price trend is relatively strong. With the arrival of imported rapeseed in Hong Kong in the later stage, the supply of rapeseed oil is expected to increase, and the price is weak and downward.

Zhengzhou rapeseed oil futures fell 4.48% on November 21. Zheng rapeseed oil futures fell 2% on November 22. The spot price of rapeseed oil dropped sharply. On November 22, the average spot market price of rapeseed oil was 13,564 RMB/ ton, down 1.05% from the previous trading day and up 5.54% year on year. In terms of supply, a large number of imported rapeseed arrived in Hong Kong in November, the operating rate of oil plants is expected to rise significantly, and the supply of rapeseed will increase. According to data, in November 2022, there will be 7 ships of imported rapeseed in coastal areas, and the quantity of rapeseed will be about 426,000 tons, an increase of 306,000 tons over the previous month. The squeezing volume of oil plants is also expected to rise, and the spot price of bad rapeseed will decline; However, rumors about the purchase and storage of rapeseed oil boosted the rapeseed oil market to some extent. In terms of demand, affected by domestic public events, the demand for oil is weak, which depresses the price of rapeseed oil. The market procurement is dominated by rigid demand.

According to the monitoring of SunSirs, the average market price of soybean oil in Shandong Province was 10,039 RMB/ ton on November 10 and 9,866 RMB/ ton on November 22, down 1.73%. On November 10, the average price of palm oil in the domestic market was 8,302 RMB/ ton, and on November 22, the average price of palm oil in the domestic market was 8,150 RMB/ ton, down 1.83%. During the period from November 10 to November 22, the trend of the three major oils was weak, and the supply of rapeseed oil was expected to increase, with the largest decline.

It is expected that a large number of imported rapeseed will arrive in Hong Kong from November to December, and the domestic rapeseed supply will turn from tight to loose; Affected by domestic public events, the demand for rapeseed oil is weak and hard to change. The rapeseed oil analysts of SunSirs predict that the trend of rapeseed oil may be more volatile and weak in China.

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