Rapeseed Procurement Policy
By CnAgri2013-05-22 11:19:04
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The government has recently unveiled its rapeseed procurement policy for this year. The state-run grain system is to procure 5 million MT rapeseeds this year at a price of RMB5,100/MT (for Grade Three), with a price gap of RMB40/MT between adjacent grades. This price is below farmers’ expectation.Domestic rapeseed oil price is roughly RMB400/MT higher than imported rapeseed oil price currently. It is predicted that rapeseed oil imports may exceed 2 million MT this year.
From “China Oil and Oilseeds Market Weekly Report”
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