SunSirs: Rapeseed Meal Fluctuated and Rose Narrowly (May 15-19)
May 22 2023 11:16:58 SunSirs (John)
Price trend
According to the monitoring of the Commodity Market Analysis System of SunSirs, the average market price of rapeseed meal on May 15th was 3,235 RMB/ton, and on May 19th, the average market price of rapeseed meal was 3,265 RMB/ton, with an increase of 0.93% during the period.
Analysis review
This week, rapeseed meal fluctuated and rose in a narrow range. In terms of supply, domestic new rapeseed has gradually been launched since May, the supply of imported rapeseed was sufficient. The operating rate of oil plants remained high, and the supply of rapeseed meal was loose. In terms of demand, the weather was warming up, aquaculture was entering the peak season, feed companies were actively stocking, and the demand for rapeseed meal was gradually increasing; And the price difference of soybean and rapeseed meal was at a high level, and the cost-effectiveness of rapeseed meal was improving, supporting the rise in rapeseed meal prices.
In terms of soybean meal: According to the monitoring of the Commodity Market Analysis System of SunSirs, the average market price of soybean meal on May 15th was 4,370 RMB/ton, and on May 19th, the average market price of soybean meal was 4,278 RMB/ton, with a decrease of 2.11% during the period. The downward trend of soybean meal market this week had limited the room for upward adjustment of rapeseed meal.
Market outlook
The import of rapeseed was abundant, and the supply of rapeseed meal was increasing. The weather is warming, and aquaculture is in peak season. The demand for rapeseed meal is optimistic. It is expected that the rapeseed meal will mainly fluctuate to be stronger.
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