|
Review & Outlook
Market Review of China¡¯s Oil s and Oil Crops
Soybean and Its Products
The importation soybean and shipment arrives have been significantly increased recently. It is expected that the shipment arrives of soybean would be more than 2 million tons each month in May and June 2003. With the price CBOT of soybean dropped, the quoted price of domestic soybean has a little drop correspondingly. At present, the sales price is 2650 RMB/ton in all ports of Shandong and about 2700-2720 RMB/ton in East and South China.
The demand on soybean increased in China market with more factories started operation. Meanwhile, the imported soybean increased and the prices are lower than the prices of the domestically produced soybean. With summer coming, the import of palm oil increases obviously and new rapeseed oil appeared in the market. Four shipments of soybean arrived to Dalian recently and the demand is relatively little, the price dropped. In Shandong, the price of grade 2 soybean oil dropped to 5800-5840 RMB/ton and in Guangdong, it was 5640 RMB/ton.
In late of May, there was 8 shipments of soybean arrived in Dalian and the price of soybean meal dropped to 2150-2180 RMB/ton and the lowest price was dropped to 2000 RMB/ton. The purchasing price of soybean meal was about 2140-2160 RMB/ton in Shandong, decreased 20 RMB/ton. In Jiangsu, the price was 2150-2180 RMB/ton. The SARS effect on the demand of soybean meal will last for a whil.
Rapeseed and Its Products
The purchasing of rapeseeds usually begins in the regions along middle of lower valley of Yangzi River. For the reason of the rainfall weather, the rapeseeds are with high contents of water in most places and the purchasing price is relatively lower. However, in general, the price is increasing. The demand is high in the oil crops. In May in Hubei Province, the purchasing price of rapeseeds has been smoothly increasing. In Jiangxi, the price of new rapeseed oil is 5850-5900 RMB/ton, and for new rapeseed meal, the price is 960 RMB/ton. In Zhejiang, the price of new rapeseed oil is 5800 RMB/ton and 950-980 RMB/ton for new rapeseed meal. In Anhui, the price of aged rapeseed oil is 5800-5900 RMB/ton and the new rapeseed meal is 900-950 RMB/ton.
Palm Oil
The price of palm oil is stable in Tianjin, for the 24 degree palm oil, the quoted price is 4820-4850 RMB/ton and the sales price is 4800-4830 RMB/ton. In May, there are more than 20 thousand tons of palm oil imported in Tianjin Port, plus the previous storage, there is a large volume of storage. The daily trade volume is about 1500 RMB/ton.
In Yantai of Shandong, the price of palm oil is higher than that of in Tianjin and Lianyungang. The 24 degree palm oil is 4850 RMB/ton and 4650 RMB/ton for 33 degree. There will be 5000 tons arriving to the Yantai Port in June.
In Zhangjiagang, the market price is 4800 RMB/ton. At present, the storage is 20 thousand tons and it will be another 10 thousand tons arriving soon.
In Guangzhou, the demand is exceed that of supply and the price is increasing. The 24 degree palm oil is 5020-5030 RMB/ton. As estimated, in June, the price will be a little drop.
|
