On December 1st, Business Society reported that as of November 23rd, the import volume of soybean oil from the 27 EU countries in 2024/25 (starting from July 1st) was 270,000 tons, a year-on-year increase of 176%, and an increase of 171% a week ago.

The article shows that as of November 23, the import volume of soybean oil in the EU for 2024/25 reached 270,000 tons, a year-on-year increase of 176%, and the growth rate a week ago was 171%. This reflects the strong growth of demand in the EU market. For spot prices, a significant increase in import volume usually indicates an increase in supply, but such high growth rates are more likely due to strong demand (such as rising demand for food processing or biofuels), which will support spot prices and avoid downward pressure. Combined with the soybean oil futures market, the main contract 2605 closed at 8,086 RMB/ton, up 48 RMB, and the position increased by 31,341 lots, indicating optimistic market expectations.

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