SunSirs: Positive Support, China Rapeseed Meal Market is Rising

According to the monitoring of the commodity market analysis system of SunSirs, the average market price of rapeseed meal on May 17th was 2,873 RMB/ton, and on May 23rd, the average market price of rapeseed meal was 2,920 RMB/ton, with an increase of 1.62% during the period.

The recent market trend of rapeseed meal is mainly strong. On the demand side: With the warming weather, aquaculture is gradually entering the peak season, and the demand for rapeseed meal is improving. The amount of rapeseed meal picked up has significantly increased, supporting the rise of the rapeseed meal market. Supply side: In April 2024, China imported 470,800 tons of rapeseed, an increase of 25.05% compared to the previous month; Domestic new rapeseed has been launched one after another, and the supply of raw rapeseed is sufficient. The operating rate of oil plants remains high, and pressure on rapeseed meal supply still exists. External market: Strong support from rapeseed prices, which is beneficial for the domestic rapeseed meal market.

Under the expectation of positive demand in the rapeseed meal market, but under the influence of sufficient rapeseed supply, it is expected that the overall trend of rapeseed meal will be mainly strong, and the upward space may be limited.

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