Rapeseed Procurement Price Running High in China

By CnAgri2012-08-15 13:11:50 Print

China’s rapeseed production is estimated to be 10.5 million MT this year, a slip of 12.5% from last year.

Subject to international soybean price hike, domestic rapeseed oil and meal price has kept going north this year, reaching RMB11,175/MT and RMB2,658/MT respectively on August 13, up 6% and 17% respectively on the year-on-year basis.

Spurred by good returns from rapeseed crushing, crushers have competed fiercely for rapeseeds this year, pushing up rapeseed procurement price to as high as RMB5,400 ~ 5,500/MT (for Grade Three seeds) currently. So far, winter-planted rapeseed procurement has basically come to an end.

From "China Oil and Oilseeds Market Weekly Report"