Source: Jintou.com
According to SunSirs data monitoring, starting from November 7, soybean oilpalmOil has entered a period of weak oscillations. The market has been ups and downs for a month, and the overall situation is still dominated by weak oscillations and declines. On November 7, the average soybean oil market price was 10,456 yuan/ton, and on December 7, the average soybean oil market price was 9,812 yuan/ton, a decrease of 6.16%. On November 7, the average palm oil market price was 8,600 yuan/ton, and on December 7, the average palm oil market price was 8,210 yuan/ton, a price drop of 4.53%.
Beginning on November 7th, the supply side of soybean oil and palm oil was intertwined with long and short, and the demand side was sluggish in the catering industry. After the market of soybean oil and palm oil fell sharply, it went up and down. as follows:
Soybean oil supply is negative: imports in NovembersoybeanThe volume was as high as 7.35 million tons, an increase of 78% from the previous month. The quantity of imported soybeans increased, the tight supply of raw materials eased, the operating rate of soybean oil plants increased, and the supply of soybean oil was loose.
The supply of palm oil is positive: Malaysia, the main producer, has entered a production reduction cycle, and palm oil production has gradually declined. In November, Malaysia’s palm oil production is estimated to be 1.72 million tons, a decrease of 5.18% from the previous month. From December 1 to 5, Malaysia’s palm oil production decreased by 9.16% from the previous month. The output of palm oil in major producing countries has decreased, and the situation of domestic palm oil supply tightening has 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. At the beginning of December, the palm oil inventory continued to remain high at 880,000 tons.
On the demand side: the weak demand in the international oil and fat industry, the decline in the prosperity of the domestic catering industry, the sharp reduction in concentrated consumption, and the sluggish demand for soybean oil and palm oil have led to the continuous recovery of soybean oil and palm oil stocks.
Li Bing, an agricultural product analyst at SunSirs, believes that the terminal catering industry is unlikely to undergo major changes in the short term, with demand sluggish, and the market outlook for soybean oil and palm oil will continue to be weak.
(Article source: SunSir)
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