01 Rapeseed

The national average price of rapeseed (net seed) in week 6 (February 2nd-6th, 2026) was 3.060 yuan/jin. Rapeseed prices in Anhui were 3.08-3.18 yuan/jin; in Hubei, 3.02 yuan/jin; in Jiangsu, around 3.18 yuan/jin; in Hunan, 3.15-3.20 yuan/jin; and in Sichuan, 3.10 yuan/jin. The rapeseed market situation in various regions this week is as follows:

Weekly Review:

Domestic rapeseed prices remained stable this week. The supply of high-quality rapeseed in China remains tight, and there is a general reluctance to sell, supporting the rapeseed market. On the demand side, downstream demand was mainly for restocking to meet immediate needs, resulting in slow trading and slow sales. The Sino-Canadian rapeseed trade policy remains unclear, and market expectations remain generally optimistic, but the rapeseed market supply is expected to remain tight in the short term.

It is expected that rapeseed prices will likely remain stable in the short term, with no significant changes. Increased long-term supply of Canadian rapeseed is a foregone conclusion, becoming the core factor suppressing market prices. Overall, the market is expected to remain stable before the Spring Festival, and the future market will depend on Sino-Canadian trade relations, the arrival of Canadian rapeseed, and the pace of recovery in downstream demand.

02 Rapeseed Oil

In week 6 (February 2nd-6th, 2026), the national average price of grade 4 rapeseed oil was 10,030 yuan/ton, a decrease 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 rose sharply this week. The main rapeseed oil contract (2605) closed at 9,380 yuan/ton on Friday. Several factors influenced rapeseed oil prices this week: First, US President Trump announced a major trade agreement with India, and the potential changes in India's demand structure opened a new growth channel for US soybean oil; second, the proposed details of the US 45Z biofuel tax credit policy were released, strengthening expectations for increased demand for soybean oil in the biodiesel sector; third, soybean oil plant operating rates remained high, leading to a slowdown in the depletion of commercial soybean oil inventories and continued supply pressure; fourth, the decline in crude oil prices disrupted sentiment in the edible oil sector.

Australian rapeseed is entering large-scale crushing, and the spot supply of rapeseed oil remains tight, continuing to support prices. Coupled with increased willingness among oil mills to maintain prices, spot quotations have generally increased, and market transactions are gradually becoming more active. Meanwhile, import costs and international edible oil prices are supporting the domestic market, keeping the spot basis relatively firm. In the short term, rapeseed oil inventories are expected to continue to decline, and the downside potential for near-month rapeseed oil contracts may be limited.

03 Rapeseed Meal

The following are the reference prices for rapeseed meal in various regions during Week 6 (February 2nd-6th, 2026):

Weekly Review:

This week, the price of ordinary rapeseed meal in coastal areas fell by 30-90 yuan/ton compared to last week. The rapeseed meal market as a whole fluctuated within a range, trending slightly lower. Futures prices fluctuated narrowly with a slight downward shift in the center of gravity, while spot prices remained stable with a slight decline. On the supply side, domestic oil mills gradually shut down as the Spring Festival approached, providing some support as rapeseed meal inventories were reduced from low levels. However, improved expectations for Canadian rapeseed imports led to a relatively loose supply in the medium to long term. On the demand side, the aquaculture season was in full swing, and the demand for livestock feed was limited. Coupled with the end of pre-holiday stockpiling and the gradual shutdown of logistics, market trading was sluggish, presenting a pattern of weak supply and demand. Rapeseed meal prices largely followed soybean meal trends, lacking independent drivers. Industry sentiment was cautious and wait-and-see, limiting both upward and downward price movements. Overall, prices remained stable at the end of the week, with transactions mainly based on immediate needs.