According to the data monitoring of SunSirs, since November 7, soybean oil and palm oil have entered a weak oscillation period. The market has fluctuated for a month, and the overall situation is still weak and volatile. On November 7, the average price of soybean oil market was 10,456 RMB/ton. On December 7, the average price of soybean oil market was 9,812 RMB/ton, down 6.16%. On November 7, the average price of palm oil market was 8,600 RMB/ton, and on December 7, the average price of palm oil market was 8,210 RMB/ton, down 4.53%.

Since November 7, the supply side of soybean oil and palm oil has been mixed, and the demand side of the catering industry has been depressed. As a result, the market of soybean oil and palm oil has fallen sharply, rising and rising, ups and downs, and the market has fluctuated for a month. The specific reasons are as follows:

The supply of soybean oil was negative: the quantity of imported soybean reached 7.35 million tons in November, an increase of 78% month on month. The number 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 side of palm oil is favorable: Malaysia, the major producer, has stepped into a production reduction cycle, and palm oil production has declined in succession. In November, Malaysia's palm oil production was estimated to be 1.72 million tons, a decrease of 5.18% month on month. Malaysia's palm oil production decreased by 9.16% month on month from December 1-5. The production of palm oil in major producing countries decreased, and the tight domestic supply of palm oil increased.

Palm oil inventory: In November, the overall palm oil inventory kept growing. After a brief decline at the end of the month, the inventory continued to grow. At the beginning of December, the palm oil storage continued to be 880,000 tons, which remained high.

Demand side: The weak demand of the international oil industry, the declining prosperity of the domestic catering industry, the sharp reduction of centralized consumption, and the sluggish demand for soybean oil and palm oil have led to the continuous recovery of soybean oil and palm oil stocks.

SunSirs agricultural product analyst believes that the terminal catering industry is difficult to change significantly in the short term. The demand is sluggish, and the soybean oil and palm oil will still be weak in the future.

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