The role of soybean oil:
1, cooking oil. Cooking oil is the main way of soybean oil consumption. From a world perspective, the consumption of soybean oil for cooking accounts for about 70% of the total consumption of soybean oil. From the domestic point of view, cooking soybean oil consumption accounts for about 78% of soybean oil consumption, accounting for about 35% of the consumption of all oils, it and rapeseed oil together to become China's two major cooking oil, but due to the hot weather caused by soybean production decreased thus causing soybean oil prices.
2, food processing. In addition to direct consumption, soybean oil can also be used for food processing. Soybean oil can be used to make a variety of cooking oil, such as cold oil, frying oil, shortening, margarine and so on. In addition, soybean oil is also used to make mayonnaise and other food products. The amount of oil used for food processing in China accounts for about 12% of the total consumption of soybean oil. Due to the different dining habits, this proportion of Western countries is higher than China, such as the United States food processing oil volume of about 25% of the total domestic consumption of soybean oil.
Soybean oil futures contracts:
1, the delivery of the underlying
Soybean crude oil, soybean oil is soybean processing of oil and fat products in general, soybean oil according to its degree of processing can be divided into soybean crude oil and finished soybean oil. In our country, soybean crude oil (also known as gross oil) is mainly for the factory's intermediate products, at present, China's imports of soybean oil is also all soybean crude oil.
2, delivery grade
Soybean oil futures delivery quality standards to China's soybean oil national standard as a blueprint, the project settings, value selection is basically the same, at the same time with the development of the spot market is not consistent with the individual indicators and values for fine-tuning. Such as the increase in the national standard did not but spot enterprises commonly used indicators of phosphorus content, and the design of phosphorus content ≤ 200mg/kg, the acid value from the national standard of ≤ 4.0mg KOH/g adjusted to ≤ 3.0mg KOH/g
3, delivery location
Dalian Commodity Exchange designated delivery warehouses, in accordance with the pattern of soybean oil production, circulation, soybean oil contract delivery place to set up In Zhangjiagang Shanghai, Tianjin and Lianyungang Rizhao area, which Lianyungang Rizhao area of the delivery depot for the non-baseline delivery depot, can be discounted 50 yuan / ton for delivery. Zhangjiagang Shanghai and Rizhao area is also a soybean 2 contract, soybean meal contract delivery place, so that the delivery location is conducive to soybean 2, soybean meal and soybean oil contract arbitrage trading and value-added operations.