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December 19, 2008
 
China Rapeseed Meal Weekly: Prices drag lower by crushers' need for cash (week ended Dec 18, 2008)           


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Price summary

Prices were significantly lower in most regions.
 

Weekly transacted prices of rapeseed meal in China

Region

Protein content
 (%)

Price as of Dec 11 (RMB/tonne)

Price as of Dec 18 (RMB/tonne)

Price change (RMB/tonne)

Jiangsu

36

1,500

1,450

-50

Anhui

36

1,700

1,580

-120

Hubei

36

1,650

1,450

-200

Hunan

36

1,700

1,550

-150

Sichuan

36

1,600

1,500

-100

Guangdong

36

1,750

1,650

-100

Prices are representative and for reference only.
RMB1=US$0.1463 (Dec 19) 

 
 

Market Analysis

 

Crushers slashed oil meal prices for cash to fulfill bank loan payments as the year come to a close. As a consequence, rapeseed meal prices also fell significantly.

 

Meanwhile, the state granary has begun its second round of rapeseed meal procurements.

 
 

Market Forecast

 

Rapeseed meal prices are expected to fall further with demand remaining low amid further weakening of cottonseed meal market. Before the next aquaculture rearing season begins in March, rapeseed meal market is unlikely to recover.


 

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