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SunSirs: Negative Pressure, Soybean Oil and Palm Oil Start Diving Market

January 18 2021 08:47:04     SunSirs (Linda)

According to SunSirs price monitoring, after New Year's Day, soybean oil palm oil briefly continued its December rise and reached its highest point. Then negative factors suppressed, soy oil palm oil started the diving market, the price continued to fall, and palm oil fell relatively more severely. On January 15, the average soybean oil market price was 8,546 yuan/ton, down 1.38% from the beginning of January and up 5.3% from the beginning of December. The average market price of palm oil was 7,310 yuan/ton, up 0.58% from the beginning of January and 8.42% from the beginning of December.

According to the monthly rise and fall of soybean oil from January to December 2020, it can be seen that soybean oil has enjoyed a good year-round growth. In addition to the 4-month consecutive decline at the beginning of the year, soybean oil has risen for 8 consecutive months. Both were above 7%, with the highest increase exceeding 12% in July. Soybean oil continued to rise sharply from January 2021, and began to dive sharply in the third week.

According to the monthly rise and fall of palm oil from January to December 2020, it can be seen that palm oil and soybean oil rose basically the same, but the increase was less than that of soybean oil. In addition to the 4-month consecutive decline at the beginning of the year, palm oil rose by 8 consecutive months. In July, the second half of the year began to increase continuously, the four-month increase was more than 5%, and the highest increase was more than 12% in July. Soybean oil continued to rise sharply from January 2021, and plunged sharply in the second week.

Bad news hits soy oil palm oil market high diving

Beginning in December, soybean oil palm oil was still strong, rumors of soybean oil purchases and storage delays, India's palm oil tariff policy, Malay palm oil stocks were at a low level, bullish support, and soybean oil palm oil continued to rise. Soybean oil rose 6.78% overall in December, and palm oil rose 7.8% overall.

After New Year's Day, the futures prices of oils and fats on the external disk rose, soy palm oil continued to rise, palm oil rose more than 3%, and soybean oil rose more than 2%. In the third week, the favorable factors for soybean oil palm oil were digested by the market. The reduction in demand in the terminal catering industry is expected to increase sharply. The negative factors hit, and the price of soybean oil palm oil fell. 3.5%.

SunSirs agricultural product analysts believe that the Spring Festival is approaching, and the rigid demand for terminal oils will increase. Soybean oil plants have been shut down for maintenance and supply is tight. Soy palm oil still has room for growth in the future.

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

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