SunSirs: Soybean Oil and Palm Oil Rose in Shock in February

Price trend

According to the monitoring data of SunSirs, since February, the futures price of the external oil had been rising, and with the support of the rigid demand of the terminal oil, the prices of soybean oil and palm oil had risen in an oscillatory way. On February 1, the average market price of soybean oil was 9,536 RMB/ton. On February 28, the average market price of soybean oil was 9,640 RMB/ton, up 1.09%. On February 1, the average market price of palm oil was 7,780 RMB/ton, and on February 28, the average market price of palm oil was 8,172 RMB/ton, up 5.04%.

Long and short gamed, the market of soybean oil and palm oil fluctuated in February

In February, long and short gamed, and the demand for oil at the end of the market improved. The market of soybean oil and palm oil continued to fluctuate and fluctuate, with mixed ups and downs. At the beginning of the month, soybean oil and palm oil experienced a period of sharp rise and fall. Palm oil showed strong performance, with an overall increase of more than 2%, and soybean oil remained stable as a whole.

From the middle of the month, soybean oil and palm oil ushered in an upward trend, and the price continued to rise. From the 13th to the 21st, soybean oil continued to rise, with an increase of more than 3%. From the 13th to the 23rd, palm oil rose significantly, with a surge of more than 5%.

At the end of the month, the positive factors were digested by the market. South American soybeans were listed in succession. The supply of raw materials was loose. Malay palm oil was abundant. Multiple negative factors led the market. The market of soybean oil and palm oil was mainly oscillating and falling.

Market outlook

According to the agricultural products analysts of SunSirs, in March, primary and secondary schools begin to open one after another, and the centralized consumption demand of the catering industry will increase. There is still room for the oil market to rise in the future.

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