China: Where will the price of rapeseed oil go?

Published 2023년 11월 29일

Tridge summary

In November, there was a significant increase in the shipments of new-crop canola from Canada to Chinese oil refineries, resulting in a high supply of imported canola. The demand for rapeseed imports and rapeseed oil is expected to decline in December due to low demand and the anticipated recovery of soybean production in Brazil. There is an oversupply of domestic rapeseed oil and increasing negative factors in the international market, causing prices to continue to decrease.

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

Original content

In November, shipments of new-crop canola from Canada began arriving at Chinese oil refineries in large volumes, with supplies of imported canola increasing significantly. Rapeseed imports will also remain at a high level in December. The Spring Festival, 春节, Chunjie (Chinese New Year, approx. oilworld.ru) this year will take place from February 10, 2024 (Saturday, the first day of the first month according to the lunar calendar) and will end on February 16, 2024 (Friday, the seventh day of the first month according to the lunar calendar). Weekends: February 10–16, 2024, pre-holiday demand on the secondary market has not yet begun. Demand is low. Coupled with the expected recovery in soybean production in the new season in Brazil, the price of imported rapeseed oil is expected to continue to decline in December. Large quantities of rapeseed imported from Canada are arriving in Hong Kong and operational loading rates are increasing. As large quantities of Canadian canola entered ...

Source: Oilworld