01 Rapeseed

Week 4 (January 19-23, 2026) National average price of rapeseed (net weight): 3.052 yuan/jin.  Anhui rapeseed price: 3.08-3.18 yuan/jin; Hubei rapeseed price: 2.98 yuan/jin; Jiangsu rapeseed price: around 3.18 yuan/jin; Hunan rapeseed price: 3.15-3.20 yuan/jin; Hubei rapeseed price: around 2.98 yuan/jin; Sichuan rapeseed price: 3.10 yuan/jin. The rapeseed market situation in various regions this week is as follows:

Weekly Review:

This week, the price of domestic rapeseed fluctuated upwards, approximately 6250-6300 yuan/ton. Prices for high-quality rapeseed increased. Currently, the circulation speed of domestic rapeseed is accelerating, and continuous inventory reduction has led to a tight supply situation. Most of the supply is in the hands of traders, and the market is experiencing replenishment due to rigid demand. New season imported rapeseed is arriving at ports, easing domestic supply pressure.

It is expected that rapeseed prices will remain stable in the short term. Domestically, oil mills' inventory reduction supports rapeseed oil and rapeseed futures prices, but the increased supply in the future due to the thawing of China-Canada trade relations is already a certainty, becoming a core factor suppressing market prices; although Russian rapeseed is an important supplier to China, it will face high-cost-effective competition from Canadian rapeseed in the future. Overall, in the short term, the domestic rapeseed market is expected to maintain a stable pattern with narrow price fluctuations; in the future, attention should be paid to China-Canada trade relations, the arrival of Canadian rapeseed, and the pace of downstream demand recovery.

02 Rapeseed Oil

Week 4 (January 19-23, 2026), the national average price of Grade 4 rapeseed oil was 9940 RMB/ton, a slight increase from the previous week.  Reference prices for Grade 4 rapeseed oil in various regions are as follows:

Weekly Review:

In the futures market, rapeseed oil futures prices fell this week, with the main contract 2605 closing at 8991 RMB/ton on Friday. Several factors influenced rapeseed oil prices this week: First, the US soybean market was in a short-term volatile stalemate, with a mix of bullish and bearish factors leading to a lack of directional momentum; second, in the palm oil market, data from Malaysia showed a significant decrease in production and a significant increase in exports during the first 20 days of January. The market expects inventories to fall from high levels, improving fundamentals and boosting market sentiment. Third, there is a strong expectation of increased future supply: improved Sino-Canadian trade relations and expected increased imports of Canadian rapeseed will improve the domestic rapeseed oil supply structure, putting downward pressure on rapeseed oil prices in the long term.

Rapeseed oil spot supply remains tight, with production stagnating and supply remaining constrained. Holiday stocking demand supported the rapeseed oil market. Pre-Chinese New Year stocking demand gradually picked up, coupled with low domestic rapeseed and rapeseed oil inventories and increased willingness of oil mills to maintain prices, leading to widespread price increases and increased market activity. At the same time, import costs and international oil prices provided support to the domestic market, spot basis remained relatively firm, and channel restocking activity increased, resulting in a significant improvement in overall industry sentiment compared to the previous week.

03 Rapeseed Meal

Week 4 (January 19-23, 2026) Reference prices for rapeseed meal in various regions are as follows:

Weekly Review:

This week, rapeseed meal prices remained stable with slight increases.  The price of ordinary rapeseed meal in coastal areas increased by 160 yuan/ton compared to last week. From the supply side, low inventory and slow operation of oil mills supported spot prices.  However, the reopening of Canada-China relations weighed on the rapeseed meal market. The favorable price advantage of soybean meal as a substitute weakened the demand outlook for rapeseed meal, resulting in a weak supply and demand situation. Overall, the rapeseed meal market maintained a weak pattern characterized by "low inventory supporting the supply side and off-season demand dragging down the demand side." The market lacked sustained unilateral driving forces, and the short-term trend is expected to be mainly volatile and corrective.