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October 31, 2008

China Rapeseed Meal Weekly: Prices sharply lower (week ended Oct 30, 2008)           

An eFeedLink Exclusive 
    
                           
Price summary

Prices were lower in most regions.
 

Weekly transacted prices of rapeseed meal in China

Region

Protein content (%)

Price as of Oct 23 (RMB/tonne)

Price as of Oct 30 (RMB/tonne)

Price change (RMB/tonne)

Jiangsu

36

2,400

2,300

-100

Anhui

36

2,400

2,300

-100

Hubei

36

2,300

2,200

-100

Hunan

36

2,400

2,300

-100

Sichuan

36

2,220

2,050

-170

Guangdong

36

2,500

2,400

-100

Prices are representative and for reference only.
RMB1=US$0.1460 (Oct 31)
 

Market analysis

Influenced by the global credit situation and lower animal rearing activities, purchasers were cautious.

Continual sharp fall in prices of soymeal and cottonseed meal dragged rapeseed meal prices down. Additionally, curtailed aquaculture rearing activities also reduced rapeseed meal requirements.
 

Market forecast

Rapeseed meal prices are expected to weaken further in the near-term.
 

 

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