According to the monitoring data of SunSirs, since December, the demand of the catering industry has been sluggish, the global oil industry has been depressed, and the soybean oil and palm oil market has continued to fluctuate and decline. As of December 21, the average price of soybean oil market was 9,184 RMB/ton, down 9.52% from the beginning of the month; The average price of palm oil market was 7,660 RMB/ton, down 10.95% from the beginning of the month.

Supply side: In November, China imported 7.35 million tons of soybeans, an increase of 78% month on month. From December 1 to 15, 2022, the unit yield of palm oil in Malaysia will decrease by 6%, the oil yield will decrease by 0.14%, and the output will decrease by 6.73%.

Demand side: The centralized consumption level of the catering industry is low, the terminal stock market is average, the soybean oil and palm oil are flat, and the market turnover has declined.

Since December, the supply side of soybean oil and palm oil has been mixed, and the demand side has been dominated by bad news. Futures have shifted their positions for months. Soybean oil and palm oil have rebounded after a sharp decline. As the demand side continues to be depressed, and the bad news has dominated, the soybean oil and palm oil market has been dominated by volatility and decline, with the price weak trend falling by about 10%.

SunSirs agricultural product analyst of SunSirs, believes that: near the New Year's Day and the Spring Festival, logistics and transportation will be suspended, and soybean oil plants will also start the shutdown maintenance plan in succession. It is expected that the soybean oil and palm oil market will stop falling and stabilize in the future.

If you have any questions, please feel free to contact SunSirs with support@sunsirs.com.