SunSirs: After the National Day, Price Of Rapeseed Oil In The Chinese Market Rose Sharply
On October 8, the average domestic rapeseed oil market price was 12,072 yuan/ton, and on September 30, the domestic rapeseed oil market average price was 11,535 yuan/ton, an increase of 4.66%. Boosted by the external market, the post-holiday oil futures spot rose sharply. On October 8, the main OI2201 contract for vegetable oil futures on the Zhengzhou Commodity Exchange (CZCE) opened at 12,000 yuan, closed at 12026 yuan, up 697 yuan, the highest was 12084 yuan, and the lowest was 11,819 yuan. It closed at 11,329 yuan yesterday and settled at 1,1991 yuan. Canada’s rapeseed production has been reduced and rapeseed import costs have risen, supporting rape oil prices. The fourth quarter is the peak season for oil demand. SunSirs rapeseed oil analysts expect the strong trend for rapeseed oil to be the main trend.