2. Soybean oil futures prices continued to rise, with a cumulative increase of nearly 50% in eight months. As a raw material for soybean oil processing, the import of soybeans has increased significantly recently. According to the data, by 2020 1 1 month, China's total soybean imports reached 92.803 million tons, up 17.5% year-on-year, and set a new record for the same period in a single month for six consecutive months.
3. Since last year, all parts of the world have actually faced a certain degree of slowdown in agricultural planting. This is because the production in various places has actually been seriously impacted by the epidemic, and the problems of its own world shipping will inevitably lead to certain problems in agricultural products, so we can have predicted from last year that there will be possible problems in the entire oil market. After all, for China, most of our food rations are self-sufficient, and only oil crops need to be imported on a large scale. Therefore, in the face of large-scale imports and the same agricultural problems faced by the world, it is bound to have a certain impact. Therefore, under such circumstances, it is entirely expected that the price of soybean oil will rise to a certain extent. At least in the case that the current epidemic has not been alleviated on a global scale, it is relatively difficult to completely solve this problem, which is a macro trend.
1 According to the report of CCTV Finance 1 month 17, the domestic edible oil price has been rising continuously since last year. A grain and oil wholesaler in Henan Province told reporters that from the beginning of 2020 to the present, the price of rapeseed oil has been rising, and the prices of soybean oil and palm oil have also followed suit. At present, the wholesale price of soybean oil has increased by more than 20% compared with last year. Among them, the price of rapeseed oil led the rise, and the wholesale price also increased the most. It is understood that after China canceled the temporary storage policy of rapeseed, it gradually promoted the destocking of rapeseed oil. At present, the rapeseed oil inventory has been digested, and the market supply is generally tight. In addition, the price increase of rapeseed oil is also restricted by factors such as land and labor force. There is limited room for increasing rapeseed production in China, and small oil plants and workshops mainly produce fragrant rapeseed oil.
2. Canada is the largest source of rapeseed imports in China. Because harmful substances have been detected in its rapeseed, domestic enterprises are more cautious in importing rapeseed, and the import of rapeseed has declined. From 1 month to1month in 2020, the total import of rapeseed in China was 2.434 million tons, which was at a historically low level.