Core Insights - The average spot price of imported rapeseed oil in China on December 23 was 9,478.75 CNY per ton, which is 631.75 CNY higher than the futures main contract price of 8,847.00 CNY per ton [1] Price Overview - The price list for rapeseed oil on December 23 shows various market prices across different regions, with the highest being 9,550 CNY per ton in Chengdu, Sichuan, and the lowest at 9,380 CNY per ton in Hefei, Anhui [2] - The futures market closed at 8,847.00 CNY per ton, reflecting a 0.68% increase, with a trading volume of 233,197 contracts [2] Market Trends - Domestic rapeseed oil inventory decreased by 31,000 tons week-on-week and 7,000 tons month-on-month, with a year-on-year decline of 11,000 tons [3] - China's rapeseed import volume for November 2025 was reported at 1,998.30 tons, a significant year-on-year decrease of 99.72% [3] Analytical Insights - Recent reports indicate that the rapeseed oil market is leading the decline in the oilseed sector, driven by expectations of global supply easing and changes in domestic supply structure [4] - A projected 10% increase in global rapeseed production for the 2025/26 season is expected to exert continuous pressure on ICE rapeseed prices [4] - The uncertainty surrounding U.S. biofuel policies is likely to weaken consumption growth expectations for soybean oil and Canadian canola oil, further negatively impacting the rapeseed oil market [4] - Domestic supply expectations have shifted due to the arrival of Australian rapeseed, which has alleviated previous tight inventory conditions, leading to a 12% week-on-week increase in coastal crushing volumes [4] - Market sentiment is shifting towards expectations of restored supply, despite ongoing inventory depletion, suggesting a weak short-term price outlook for rapeseed oil [4]
供应增加预期主导下 菜籽油价格维持弱势格局
Jin Tou Wang·2025-12-23 08:32