From this year to the first half of next year, the growth of world oil and oil supply will exceed the growth of demand. "Cao Zhi, director of the market monitoring department of the national grain and oil information center, said at the first annual meeting of Beijing private edible oil industry elites co organized by Yinjian futures and Beijing Guojia Jingu Grain and oil Co., Ltd. on March 1, If the inventory level does not decrease significantly, vegetable oil prices will still face pressure in the future. Cao Zhi said that the number of domestic soybean imports to Hong Kong in the next few months will remain at a normal level, but with the substantial increase in soybean production in South America, the world's soybean supply will exceed demand in 2009/10
From this year to the first half of next year, the growth of world oil and oil supply will exceed the growth of demand. "Cao Zhi, director of the market monitoring department of the national grain and oil information center, said at the first annual meeting of Beijing private edible oil industry elites co organized by Yinjian futures and Beijing Guojia Jingu Grain and oil Co., Ltd. on March 1, If the inventory level does not decrease significantly, vegetable oil prices will still face pressure in the future.
Cao Zhi said that the number of domestic soybean imports to Hong Kong in the next few months will remain at a normal level, but with the substantial increase in soybean production in South America, the world's soybean supply will show a pattern of oversupply in 2009/10. For oils and fats, the number of domestic imported soybean oil to Hong Kong will gradually increase in the next few months. Considering that the supply of rapeseed oil this year will be higher than last year's level, the supply of oils and fats will tend to be loose in the later period, and the commercial inventory level will gradually increase. If the way of purchasing and storing rapeseed oil changes (for example, the way of purchasing and storing soybean oil), the supply of rapeseed oil in the southern region will increase by more than 1 million tons this year compared with last year.
In view of the rapid rise in cottonseed and peanut prices in the new season, Cao Zhi believes that the deep-seated reason lies in the rapid expansion of industry production capacity. Eventually, however, market prices will return to fundamentals, which means that the spread between cotton oil, peanut oil and bulk oil products will return to normal levels. Along with this, the cottonseed and peanut processing industry will face the possibility of reshuffle in the next year or two, especially the cottonseed processing industry.
