According to the monitoring data of SunSirs, the market trend of soybean oil and palm oil in August was divided, with ups and downs. At the beginning of the month, the average price of soybean oil market was 10,564 RMB/ ton. On the 24th, the average price of soybean oil market was 10,910 RMB/ ton, up 3.28%. At the beginning of the month, the average price of palm oil market was 10,080 RMB/ ton. On the 24th, the average price of palm oil market was 9,770 RMB/ ton, down 3.08%.

According to the weekly K-bar chart of soybean oil of business club from June 6 to August 21, 2022, it can be seen that since June, the soybean oil market has continued to decline, with a comprehensive green trend, with a weekly decline of more than 10%. In July, the price of soybean oil rebounded, showing both ups and downs. It rebounded near the end of the month, with the highest weekly increase of more than 7%. Since August, soybean oil has continued to rise and fall, with oscillation. Since August 19, the market has risen sharply. By August 24, the market has risen by nearly 5%.

According to the weekly K-bar chart of palm oil from June 6 to August 21, 2022, it can be seen that since June, the market of palm oil has continued to decline, with a weekly decline of more than 12%. In July, the price of palm oil rebounded like that of soybean oil, with both ups and downs. It rebounded near the end of the month, with the highest weekly increase of more than 7%. Since August, palm oil has continued to rise and fall, with overall oscillation rising, and its performance is not as good as that of soybean oil. Since August 19, the palm oil market oscillated upward, and on August 24, there was a pullback, with the overall price rising by 1.66%.

In August, the rising trend of soybean oil and palm oil was differentiated. The overall oscillation of soybean oil rose, and the overall oscillation of palm oil fell. In terms of soybean oil, the positive factors include the rise in the external market of us beans. The inventory is at a low level, at the first line of 860,000 tons, with a decrease of more than 2% on a week-on-year basis. The spot market of soybean oil is supported, and the prices rise one after another. After experiencing twists and turns, the price of soybean oil rose by more than 3%.

In terms of palm oil, the unit output of palm oil in Malaysia increased, and its inventory was low. The market was boosted by soybean oil. In the first ten days of August, the price also experienced a first drop and then a bottom rebound. Due to the increase cycle of palm oil in Malaysia, the external market has insufficient power to pull up. In addition, the price of palm oil is too high, and the market has dropped, with an overall decline of more than 3%.

SunSirs agricultural product analyst believes that the rigid demand of end users for e dibble oils has increased, and there is still room for the rise of soybean oil and palm oil in China in the future.

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