Soybean Oil: This week, soybean oil price continues increase from last week. According to America Agricultural Weekly Inspection Report, recently American soybeans’ export is strong with inspection volume of 2.234 million tons that is higher than the average market expectation. In addition, with the pulling up of technical buying, American spot soybean price runs up, which support domestic spot goods market. Spring Festival is upcoming, thus small package market prepare reserve goods. Under this circumstance BOABC predicted that at present spot soybean oil market will rebound slightly.

Rapeseed Oil: This week average rapeseed oil price goes up from last week. Domestic vegetable oil supply is so ample that rapeseed oil does not qualify price competitive advantage. However, forced by cost pressure, oil factories have to support price. Therefore the market transaction is less. It predicted that domestic rapeseed oil market will keep weak.

From “China Oil and Oilseeds Market Weekly Report”