Source: MOA

The MOA Expert Panel on Market Monitoring and Early Warning for Agricultural Products released the survey findings of oil crops and edible oil market for April 2009.

I. Domestic oil crops price endured ups and downs. Edible vegetable oil prices soaring
In April, the purchase price of Hubei Province rapeseeds was 3400 yuan/ton, down by 2.9% on a month-to-month basis and 28.6% year on year. Factory price of grade IV rapeseed oil was 7,588 yuan/ton, up by 1.5% on a month-to-month basis and down by 42.3% year on year. The whole sale price of grade II peanut in Shandong Province was 4,612 yuan/ton, up by 9.8% on a month-to-month basis and down by 47.7% .The price of grade IV peanut oil was 8,976/ton, remaining unchanged on a month-to-month basis, down by 52.8% year on year. The price of 24 degree palm oil produced in Tianjin was 6886 yuan/ton,up by 20.9% on a month-to-month basis and down by 37.8% year on year.

II. International oil crops and edible vegetable oil prices on the rise
In April, the CNF price of Canadian rapeseed was US$425/ton, up by 5.6% on a month-to-month basis and down by 40.7%. the FOB price of American soybean oil was US$769/ton, up by 15.9% on a month-to-month basis and down by 42.3% year on year. The FOB prcie of Malaysian 24 degree palm oil was US$752/ton, up by 19.2% on a month-to-month basis and down by 41.3% year on year.

III. Imported rapeseed price recovered. Imported oil price is still lowed than the domestic price.
In April, international rapeseed price was on the rise and domestic rapeseed price decreased, reversing the trend that the international rapeseed price was higher than the domestic price for the last five months.In April, the CNF price of Canadian rapeseed was 3,689 yuan/ton, 289 yuan/ton higher than the purchase price of domestic rapeseed. The FOB price of Mexico Gulf soybean oil was 769 dollars/ton, accounting to 5,254 yuan/ton, 1,511 yuan/ton lower than domestic soybean pirce. Imported soybean oil price after tax in Shandong Province was 6,588 yuan/ton, 176 yuan/ton lower than domestic soybean oil.

IV. China’s oilseeds import hiked and edible vegetable oil import dropped.
China Customs reported that in March, China imported 3.86 million tons of soybean, up by 66.5% year on year and 280.3 thousand tons of rapeseed, up by 1.3 times. For the first quarter of 2009, the total import of soybean was 10.15 million tons, up by 30% year on year and total import of rapeseed was 625.8 thousand tons of rapeseed, up by 99.03% year on year. The import of rapeseeds set a new record. The total import of edible vegetable oil was 1.7611 million tons, down by 12.54% year on year.

 

 

 

  (Date: 15:19  17 July 2009)