According to the monitoring of the business agency, the average market price of rapeseed oil was 13,454 RMB/ton, down 0.61% from the previous trading day and up 18.72% year-on-year.
Analysis review
On the 17th, Zhengzhou rapeseed oil futures fell 2.22%, the spot fell with the market, and the rapeseed oil was adjusted down from a high level. The oil substitution effect is strong, and the consumption of rapeseed oil market is under pressure. Under the conflict between Russia and Ukraine, the market worried about the oil supply, which supported the price of rapeseed oil. Coupled with the high cost of rapeseed and the tight quantity of imported rapeseed and rapeseed oil, the supply of rapeseed oil was tight.
Market outlook
It is expected that the price of rapeseed oil will still be adjusted at a high level.
