Declining rapeseed oil and meal prices in China will soon increase the pressure on the world rapeseed market

Forecasts of a decline in demand for canola oil and meal in China amid increased supply of soybeans on the world market will increase pressure on canola prices in the near term. After the Spring Festival, demand for oils and fats in China has decreased significantly, with canola oil falling the most among all types of oil, while canola meal may pick up slightly in the spring. Currently, rapeseed oil demand prices are at RMB 10,000/t, or $1,450/t, but will continue to fall as rapeseed processing ramps up. Rapeseed meal prices are hovering around RMB 3,100-3,300/t, or $450-480/t, and could soon rise amid seasonal increases in consumption by fish and aquaculture producers. Amid improved Sino-Canadian relations and increased canola production in Canada, China has sharply increased canola imports. In November, he purchased 476,700 tons, in December – 544,900 tons, in January – 715,000 tons, and in February he plans to purchase 620,000 tons. In total, for the specified period, rapeseed ...