According to the commodity market analysis system of SunSirs, starting from mid January, the soybean oil market has rebounded and overall fluctuated upwards. On January 15th, the average price of soybean oil in the market was 8,058 RMB/ton. On January 22nd, the average price of soybean oil in the market was 8,146 RMB/ton, with a price increase of 1.09%.

Starting from mid January, the external soybean market has been rising, and the terminal oil stocking market has started before the Spring Festival. Market transactions have improved, and the volume of goods has accelerated. With the support of favorable factors, the soybean oil market has ushered in an upward trend. The average price of soybean oil in the domestic market has risen to 8,100 RMB/ton, with a growth rate of over 1%.

Agricultural product analyst at SunSirs, believes that with the support of bullish external market conditions and an increase in demand for terminal oils, the soybean oil market may continue to rise in the future.

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