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Issue |
Policy
Palm Oil Price Increases in China
Recently, the palm oil has become the focus point in China¡¯s oil and fat market. With the weather become warmer and the demand of palm oil increased sharply, the price is going up greatly in China market. In China¡¯s major port, the price reached the highest point in recent 3 years, which has led the increase of import. Since the middle of June, the price of palm oil has slightly dropped.
At present, the price has dropped to 5350 RMB/ton in Guangzhou Port, decreased 0.9%; in Tianjin Port, the imported soybean oil was 5030-5080 RMB/ton, decreased 0.39%; in Shanghai Port, the price was 5010-5060 RMB/ton, decreased 0.59%; in Shandong, the price was 5040-5070 RMB/ton, dropped 0.4%. The arrival of imported palm oil increases greatly between June and July.
In China, the price of palm oil was greatly affected by the international market. The decreasing price recently in the international market has led the price dropping in China Port. In this year, China¡¯s import quota for palm oil is 2.6 million tons, increased 200 thousand tons from last year.
As latest marketing survey shown, between June and July, there will be a large amount of imported palm oil arriving in Shandong, Tianjin and Jiangsu. The arrival of palm oil will concentrate in such a short period, therefore, the palm oil market will face the serious competition.
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