Rapeseed oil, commonly known as rapeseed oil (hereinafter referred to as rapeseed oil), is a transparent or translucent liquid obtained after rapeseed (hereinafter referred to as rapeseed oil) is pressed, and its color is golden yellow or brownish yellow. Vegetable oil is one of the main edible oils in China and the third largest vegetable oil in the world. It ranks as the world's four largest oils along with soybean oil, sunflower oil and palm oil.

Rapeseed has a high oil content, which can reach 35%-45%. Its main purpose is to extract oil to eat.

Vegetable oil is not only edible directly, but also widely used in industry: it can be used to make margarine and other foods and used as lubricating oil in steel casting industry. Ordinary vegetable oil is widely used in machinery, rubber, chemical industry, plastics, paint, textile, soap making and medicine. The protein content of rapeseed meal is as high as 36%-38%, and its nutritional value is similar to that of soybean meal. It is a good concentrated feed and widely used in fresh water culture. In addition, the rising biodiesel project in recent years has made the proportion of vegetable oil converted into biodiesel increase year by year, making it an ideal substitute for petroleum diesel.

Second, the market overview

1, rapeseed oil supply

The world vegetable oil production is mainly concentrated in EU, China, Indian and Canadian, and the total output of the four countries accounts for 82.79% of the global output. The February report of USDA 2065 438+02 and1February shows that the global vegetable oil output in June of 2011February was 24,365,438+00,000 tons, of which the EU accounted for 38. 16%, ranking. Vegetable oil production in China is mainly concentrated in the middle and lower reaches of the Yangtze River, accounting for more than 80% of the country.

In 2010/1and 20112 years, the world rapeseed oil output continued to increase and set a new record. According to USDA data, the global rapeseed oil output of 201012 reached 23.69 million tons, and 2010,000 tons.

In the past seven years, the world rapeseed oil production has been growing rapidly, mainly due to the increasing demand. Especially since 2002/03, with the rising price of crude oil and the rapid development of global biodiesel industry, especially the rapid increase of biodiesel production from rapeseed oil in EU countries, the consumption demand of global rapeseed oil industry has been increasing. At the same time, with the development of global economy and the continuous improvement of people's living standards, the edible consumption of rapeseed oil is also increasing, and the global domestic consumption of rapeseed oil has been increasing.

2. Demand for rapeseed oil

The consumption of vegetable oil in the world also has the characteristics of concentration. According to the report of USDA, the world demand for vegetable oil in 2002 was 23.76 million tons, of which the European Union, China and India accounted for 39.4 1%, 25.62% and 65.438+003438+0 respectively. Although Canada's vegetable oil production ranks third in the world, its demand is small, and it is the main exporter of vegetable oil in the world, and it is distributed to China, European Union, Indian and other countries.

The world rapeseed oil consumption is increasing. In 2002/03, the domestic consumption of rapeseed oil in the world was only 6.5438+0.236 million tons, and in 2004/05 it exceeded 6.5438+0.5 million tons for the first time, reaching 6.5438+0.556 million tons. In 2008/09, it broke through 20 million tons again, reaching 203 1 10,000 tons; In 20112 years, the domestic consumption of rapeseed oil in the world reached 23.76 million tons, setting a historical record for nine consecutive years. During 2000/01-20112, the domestic consumption of rapeseed oil in the world increased by 77.08%, with an average annual growth rate of 5.33%.

The sharp increase of global domestic rapeseed oil consumption is mainly due to the rapid growth of rapeseed oil industrial consumption. In 2002/03, the global industrial consumption of rapeseed oil was only 6.5438+0.33 million tons, and it exceeded 5 million tons in 2007/08, reaching 5.65438+0.6 million tons. In 2009/ 10, it stopped after the increase of more than 7 million tons. 201112 The global industrial consumption of rapeseed oil was 7.36 million tons. During 2000/01-20112, the industrial consumption of rapeseed oil in the world increased by 542.79%, with an average annual growth rate of 18.43%, which was much higher than the growth rate of edible consumption of rapeseed oil. In 2000/0 1 year, the global edible consumption of rapeseed oil was 12.23 million tons, and in 2006/0 12, it increased to16.4 million tons, with a cumulative increase of 33.79% during the two years, with an average annual increase of only 2.68.

Three, rapeseed oil exchange and code

Rapeseed oil futures exchange: Zhengzhou Commodity Exchange

Transaction code: OI

Four, rapeseed oil futures contract

Five, the main factors affecting the fluctuation of rapeseed oil futures price

1. international market supply: produced in Canada and EU.

2. Domestic vegetable oil supply: weather conditions and planting area in the middle and lower reaches of the Yangtze River in China.

3. Import volume: China's import source country is Canada, and Canada's import volume has a great influence on China's vegetable oil market.

4. International and domestic market demand factors, especially in recent years, the consumption of vegetable oil used to produce biodiesel in the EU has increased year by year, which has supported the market price of vegetable oil to some extent.

5. Impact of substitute commodity prices: The supply and demand of soybean oil and palm oil will have an impact on the price of vegetable oil.

6. Agriculture, trade and food policies related to vegetable oil.

7. Impact of international futures market price: Soybean oil trading of Chicago Board of Trade (CBOT) and rapeseed futures of Lake Winnipeg in Canada have great impact on the market.

The main source of market information of intransitive verbs

Canadian rapeseed futures market, Zhengzhou Commodity Exchange rapeseed, rapeseed oil, rapeseed meal market, national grain auction market, etc.

USDA report, monthly report of National Grain and Oil Information Center, relevant policies of National Development and Reform Commission and Grain Bureau, import and export data of China Customs released on June 10, etc.