BEIJING: News from the National Grain and Oil Information Center on October 8: The National Grain and Oil Information Center released the latest “Monthly Report on Oil and Oil Market Supply and Demand”. The import volume is 99.5 million tons.
The annual soybean oil consumption is estimated to be 98.5 million tons, an increase of 5.9 million tons or 6.4% year-on-year, including 96.5 million tons of imported soybeans. The annual soybean supply and demand balance were 2.78 million tons.
It is estimated that soybean imports in 2021/22 will be 102 million tons. The annual soybean oil consumption is estimated to be 101.5 million tons, a year-on-year increase of 3.0%. Therefore, China’s soybean market has huge demand, supporting the trend of high organic soybean prices, leading to trade pressure and serious gambling psychology. Further attention is paid to market changes.
Current Market Price in China for 2020 CROP soybean
|Purity||99.5 % Min|
|Package||25kg Paper Bag|
|Loading||22Tons / 20GP|
|FOB Dalian||USD 1100/Mt|
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