Palm oil prices in Tianjin rose sharply in early June

Introduction: since the stable price of 4100-4150 yuan / ton in May, Tianjin palm oil market has rapidly increased to 4350 yuan / ton, and it has been oscillating at this price for a long time At the end of May and the beginning of June, the prices of soybean and soybean oil in the international market both rose strongly, and the domestic soybean oil prices soared sharply Pakistan, India, China's large purchase of palm oil and other factors all led the international palm oil market to step on the path of price firmness The market price of palm oil in China has also increased sharply since June 5 The price of palm oil in Tianjin jumped to 4540-4600 yuan / ton, and the high price stood at 4700 yuan / ton on August 10 At present, the palm oil inventory in Tianjin port is about 20000-30000 tons Palm oil prices in other provinces and cities in China also increased significantly On June 5, palm oil prices were respectively: 4520-4570 yuan / ton in Zhangjiagang; 4600 yuan / ton in Shanghai; 4580-4640 yuan / ton in Ningbo The price of palm oil on August 10 was almost 4700-4750 yuan / ton The main reasons for the rapid rise of domestic palm oil prices are as follows: First of all, due to the shortage of soybean supply in China, the squeezing operation is insufficient, and even the production is stopped, which causes the serious shortage of soybean oil supply In the first ten days of June, the soybean oil market price in China rose, the price of secondary soybean oil is generally above 4700 yuan / ton, Tianjin is about 4880 yuan / ton, and the price of salad oil is generally between 5050-5100 yuan / ton The sharp increase of soybean oil market price has made many domestic users of edible oil turn to palm oil market, making the originally strong demand palm oil market more active, and then driving the price of palm oil with a slight pause to rise again, reaching the high price not seen in recent years Secondly, the international palm oil market is affected by the situation and climate of South America The delay in the shipment of soybeans and soybean oil in South America has led to the concentration of world vegetable oil demand in palm oil market In particular, India, Pakistan, China and other countries have recently increased their purchases of palm oil, which has led to a substantial increase in the number of purchases in the palm oil market in Malaysia and Indonesia Since June, the FOB price of 24 degree palm oil in Malaysia's shipping schedule has risen rapidly to 430 us dollars / ton, while the price of CNF in China's port of destination has risen to 442-445 US dollars / ton Compared with the FOB price of Malaysia of $330 / ton in mid April, the price of palm oil in the international market has increased by $100 / ton This is the root cause of the sharp increase of palm oil price in China The third is that the international soybean oil market price is higher than expected due to the increase of U.S exports, the export volume is higher than expected, and the inventory volume is reduced, while the soybean oil production in South America is insufficient, which makes the soybean oil price in Chicago rise sharply, and the soybean oil price in South America is also rising rapidly in recent CNF quotation On June 4, the price of crude soybean oil from South America to China reached 465-470 US dollars / ton, which further ensured the stable rise of palm oil market price The international soybean oil and palm oil prices have been soaring all the way, and the prices have reached a peak During this period, people's enthusiasm for purchasing has also declined Importers in various countries have begun to be cautious in the purchasing process, and try to consume the vegetable oil in the inventory during this period, especially the purchase interest in palm oil is completely absent The market demand has been rapidly reduced (the same in the domestic market), which forces the international market Market soybean oil and palm oil prices began to fall In a few days to June 11, the price of South American soybean oil to China's ports dropped to 457-464 US dollars / ton, an average decrease of about 8 US dollars / ton The palm oil market was the most affected market After losing competitiveness due to high price, there was a sharp decline In July, the FOB price of Malaysia had dropped by 20 US dollars / ton, and the price was 410 US dollars / ton This situation has quickly spread to China On June 11, the price of palm oil in Tianjin Port has returned to 4650 yuan / ton, and the situation is unsalable (author:) share to feed Weibo share to: