hanoi2021southeastasiangames| Rapeseed futures fluctuated upwards; rapeseed production in Ukraine is expected to decrease; inventories in coastal oil mills fall

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Rapeseed futures rose in shock, with an increase of 3%hanoi2021southeastasiangames. 41%, rapeseed production in Ukraine is expected to decline, domestic rapeseed prices will fall slightly, EU imports will reach 4.9 million tons, and rapeseed stocks in coastal oil mills will decrease.

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Rapeseed futures fluctuated upward, and the main contract price hit a high point, with a significant increase. [Rapeseed futures prices continue to rise, with the main force reporting as high as 6070 yuan per ton]. In the trading on May 22, rapeseed futures showed a strong trend, with the main contract price exceeding a high of 6,070.00 yuan and dropping to 5,660.00 yuan, an increase of 3.41%. Market focus shifted to the expected decline in production in Ukraine. The Agrarian Council said that unfavorable weather may cause Ukraine rapeseed production to drop below 4.1 million tons in 2024 from 4.7 million tons in 2023. The average domestic rapeseed price fell slightly. As of May 21, the average price of domestic rapeseed was reported at 6033 yuan/ton, down 0.08% from the previous trading day. EU rapeseed imports are significant. According to data from the European Commission, as of May 3, rapeseed imports in 2023/2024 reached 4.9 million tons. Canadian rapeseed C&F prices rise. On May 21, the price of rapeseed C&F for July shipment was US$583/ton, an increase of US$7 from the previous trading day.hanoi2021southeastasiangames; The September shipping price is US$573/ton, which is also increased by US$7. Coastal oil mills have reduced rapeseed stocks. Research shows that as of May 17, rapeseed stocks in major oil mills in coastal areas dropped to 428,000 tons, a decrease of 65,000 tons from the previous week.