BEIJING, Oct. 15 /PRNewswire-Asia/ -- Frbiz reports that with import soybean prices increased for three consecutive months, domestic first level bulk oil prices will soar, stimulating edible oil wholesale increases.
The limited six months of Argentina's import soybean season has recently seen a recovery, which is conducive to improving the crude oil supply, and to a certain extent easing crude oil prices increases.
The customs data shows that in September of this year, Chinese import soybean average prices were higher than in July, increasing 5.3%. However, the soybean oil price increased faster than the soybean prices.
The first level of bulk soybean oil prices is 7,250 RMB per ton, now it has more than 9,000 RMB, increased 27%. It is in the refining stage, where each ton will lose 2,000 RMB per ton, if coupled with processing, storage, logistics, marketing and other costs, and the loss is even greater.
Frbiz reports that domestic edible oil prices increased 0.2%. Among them rapeseed oil, peanut oil, soybean oil retail prices rose respectively rose 0.3, 0.2% and 0.1%.
Although the wholesale price rise has not yet fully spread to the retail market, Frbiz believes that edible oil retail prices may also increase soon.
Frbiz predicts that in the future, imported soybean oil will remain high volume; while the Chinese edible oil market supply is relatively abundant, it is expected that the price will basically keep stable.
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