The soybean oil commodity index was 57.97 on April 16, up 0.65 points from yesterday, down 42.32% from the cycle's highest point of 100.51 (2011-Septmber-12), and up 15.89% from its lowest point of 50.02 on December 18, 2018 (Note: Period refers to 2011-Septmber-01 till now). 

The palm oil commodity index was 64.36 on April 16, up 0.78 points from the previous day, down 42.98% from the cycle high of 112.88 (2012-April-10), and up 24.87% from the low of 51.54 on December 16, 2018 (Note: Period from March 1, 2012 to now).

After the tomb-sweeping day, the price of soybean oil palm oil was mixed, the overall rise in the main, soybean oil spot price rose more. As of April 16, the average price of soybean oil was 5,926 yuan/ton, up 4.46%. Palm oil rose by 0.87 percent to an average market price of 5,086 yuan per ton.

Product: After the tomb-sweeping day, soybean oil and palm oil surged as the palm botanical garden in Malaysia closed. Due to the overseas outbreak, the domestic catering industry's oil demand is still weak, soybean oil and palm oil prices rose after the trend of decline. Because of the shortage of soybean oil raw materials imported soybean supply, soybean oil plant stopped, soybean oil delivery queue, the performance of anti - decline, mid-April re-rise market. In terms of palm oil, Malaysia is in the cycle of increasing production, and the resilience of soybean oil is relatively low. Driven by the rise of soybean oil, the price is mainly rising.

Futures: On April 16, even the main soybean oil futures y2009 contract, opened 5,506 yuan, closed 5,526 yuan, up 12 yuan. The main palm oil futures contract p2009, which opened at 4,680 yuan, closed down 114 yuan at 4,584 yuan.

Data: The import volume of edible vegetable oil in March 2020 was 469,000 tons, and that of January-March was 1.688 million tons, down 14% compared with the same period last year.

ITS: Malaysian palm oil exports were 312,900 tons from April 1 to 10, 2020, down 6.64% from 335,155 tons in the same period in March.

Market Forecast: Agricultural products analyst Li Bing thinks that the oil market news is relatively chaotic, and the end demand did not usher in a real improvement. The market soybean oil palm oil prices still have room to rise, while rise is limited.

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