An overview of the rapeseed oil market in China

Published 2023년 3월 17일

Tridge summary

Since the Chinese New Year, China has seen a significant drop in the spot price of rapeseed oil, with an ex-works average price decrease of approximately 20%. From January to April, the country plans to import over 2 million tons of rapeseed, with prices ranging from 7100 - 7300 yuan. This is due to a diversification in the raw material supply chain, including large imports of rapeseed and rapeseed oil, as well as an increase in domestic production. The rapeseed oil market is expected to grow and become more competitive, with rural oil mills, regional enterprises, and large oil mills playing key roles. The market is also dominated by edible oil industry leaders such as COFCO, Yihai Kerry, and Luhua.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Since the Chinese New Year, the spot price of rapeseed oil in China has continued to decline, and the average ex-works price has fallen by about 20%. From January to April, China plans to import more than 2 million tons of rapeseed. Prices on CIF terms, March-April, were at the levels of 7100 - 7300 yuan. At the same time, the price difference with soybean oil, the strongest competitor, also narrowed rapidly: in November last year, the price of rapeseed oil per ton was more than 3,000 yuan higher than that of soybean oil, but now the price difference has fallen to about 700 yuan. The cost-effective advantage of rapeseed oil has returned, and whether it is used for family consumption or catering, it has gained competitive advantages to replace other oils. An important reason for this situation is that a large amount of imported raw materials arrived in Hong Kong, including imported rapeseed from Canada and other countries, as well as imported rapeseed oil from Russia and other ...

Source: Oilworld