SunSirs: Negative News, the Market of Soybean Oil and Palm Oil Fell in China
January 12 2023 11:52:46 SunSirs (Selena)
According to the monitoring data of SunSirs, after the New Year's Day, the market of soybean oil palm oil has plunged in succession, with the market mainly falling. On January 1, the average price of soybean oil market was 9,460 RMB/ton. On January 11, the average price of soybean oil market was 9,204 RMB/ton, and the price fell by 2.71%. On January 1, the average price of palm oil market was 8,356 RMB/ton. On January 11, the average price of palm oil market was 7,640 RMB/ton, down 8.88%.
After the New Year's Day, the centralized consumption level of oil terminal catering demand is general, and the demand is poor. Mapan palm oil continued to decline, the US soybean oil market weakened, and multiple negative effects were superimposed. The soybean oil palm oil market entered a downward channel, with prices falling one after another, and the market rose weakly. As of January 10, the overall decline of soybean oil was more than 3%, and that of palm oil was more than 8%.
SunSirs agricultural product analyst believes that during the Spring Festival, the soybean oil plants have been shut down for maintenance, and the supply of soybean oil is tight. In addition to the holiday stimulation of consumption, the future market of soybean oil palm oil may stop falling and rising.
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- 2024-04-18 SunSirs: China Soybean Oil Market is constantly Falling, What will Happen in the Future?
- 2024-04-12 SunSirs: Good News, China Palm Oil is Expected to Rise
- 2024-04-10 SunSirs: China Soybean Oil Market and Palm Oil Market Declined after the Qingming Festival
