Since mid-June, the domestic palm oil price has fluctuated again, and has fallen by 350-450 yuan/ton to the low range in the past three years. However, the domestic port inventory is still at a historical high in the near future, and the domestic soybean oil supply will further increase in the later period. In addition, after July, the main producing countries will enter the production increase cycle, and the supply pressure in the international market may increase again. Due to the above factors, the domestic palm oil price is expected to remain weak in the later period.
Monitoring shows that in the past week, the domestic spread of soybean and palm oil has remained around 1600 yuan/ton, and the domestic prices of soybean and palm oil have fluctuated within a narrow range, and the spread between them has not changed significantly. At present, the price of first-class soybean oil in Tianjin and Zhangjiagang is 1580-1600 yuan/ton higher than that of 24-degree palm oil. Since the beginning of June, the price difference between the two has narrowed to 1350 yuan/ton. The current price difference is basically the same as the same period of last year, but it is still higher than the same period of other years.
(National Grain and Oil Information Center)
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