Source: www.jintou.com
According to SunSirs data monitoring, as of November 7, soybean oilPalm treeOil has entered a period of low swings, the market has been up and down for a month, and the overall situation is still dominated by low swings and lows. On November 7, the average market price of soybean oil was 10,456 yuan/ton, and on December 7, the average market price of soybean oil was 9,812 yuan/ton, a decrease of 6.16%. On November 7, the average market price of palm oil was 8,600 yuan/ton, and on December 7, the average market price of palm oil was 8,210 yuan/ton, a price decrease of 4.53 %.
As of Nov. 7, the supply side of soybean oil and palm oil has been intertwined with the long and short, and the demand side has been sluggish in the restaurant industry. After the soybean oil market soybean and palm oil has declined dramatically, has gone up and down. as follows:
Soybean oil supply is negative: imports in NovembersoyThe volume reached 7.35 million tons, up 78% from the previous month. The amount of imported soybeans has increased, the limited supply of raw materials has decreased, the operating rate of soybean oil plants has increased, and the supply of soybean oil has been low.
Palm oil supply is positive: Malaysia, the major producer, has entered a production reduction cycle and palm oil production has progressively declined. In November, Malaysia’s palm oil production was estimated at 1.72 million tonnes, down 5.18 percent from the previous month. From December 1 to 5, Malaysia’s palm oil production decreased by 9.16% compared to the previous month. Palm oil production in major producing countries decreased, and the situation of tightening domestic palm oil supply increased.
Palm oil inventory: In November, the overall palm oil inventory continued to grow, after a brief decline at the end of the month, the inventory continued to grow. In early December, palm oil inventories continued to remain elevated at 880,000 tonnes.
On the demand side: Weak demand from the international oil and fat industry, declining prosperity of the domestic foodservice industry, sharp decline in concentrated consumption, and weak demand for soybean and palm oil led to continued recovery of stocks of soybean oil and palm oil.
Li Bing, an agricultural products analyst at SunSirs, believes it is unlikely that the terminal food service sector will experience major changes in the near term, with demand sluggish and the market outlook for soybean oil and palm oil continuing to be weak .
(Article source: SunSir)
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