SunSirs: China Domestic Palm Oil Import Market Profit Still Inverted
December 05 2024 14:15:52 SunSirs (Selena)
On December 5th, the National Grain and Oil Information Center reported that since the beginning of this year, domestic palm oil prices have been inverted for a long time, which has suppressed enterprise imports and downstream consumption.
Monitoring shows that on December 4th, the CNF import prices for 24 degree palm oil with shipping schedules from January to March 2025 in China were 1,265 US dollars/ton, 1,250 US dollars/ton, and 1,214 US dollars/ton, respectively. The dutiable prices at ports in southern China were 10,970 RMB/ton, 10,820 RMB/ton, and 10,480 RMB/ton, respectively, which were 1,470 RMB/ton, 1,320 RMB/ton, and 980 RMB/ton higher than the contract price of 2505 palm oil from major trading firms.
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