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.
All rights reserved. No part of the report may be reproduced without permission from eFeedLink.
