POINTERS ON THE PRICE TRENDS:
Supply & Demand of China Oils & Fats in 2H2020 at the back of Further Recovery of Swine Sector and Covid-19
Mr. Cai Neng Bin
He is the General Manager of Shanghai Pansun Company. His roles and responsibilities in the company are analyzing oilseeds and oils and fats market information, with main emphasis given on systematic data analysis and make judgement on market trading pattern. He is also able to gauge the change of medium to long market trends of agricultural products, and provides trading and hedging strategies through capturing price differences arises from logical error within markets, and between different products and months.
- Ample global soybean supplies due to increase in production.
- China's soybean import increased, with Brazil's soybean accounted for biggest share.
- China and the United States signed a trade agreement, and China increased its purchases of soybeans, but the progress was still limited by some factors.
- The output of soybean in China is slowly increasing due to better profit against planting corn.
- Affected by epidemic situation and political factors, the stability of soybean supply chain still requires continuous attention.
- Swine breeding numbers continued to improve due to policies supports.
- The demand for plant protein was restored and increased, and led to higher soybean crushing activities.
- China's soybean crushing is greatly affected by the demand for livestock industry, as well as the pace of soybean arrival.
- The covid-19 epidemic has a significant impact on oils & fats consumption in China for certain period, with the biggest impact on soybean oil.
- Fallen crude oil price affected China's consumption of palm based biodiesel, but palm oil consumption in food sector remained stable.
- While rapeseed imports are restricted, but direct rapeseed oil imports remain at a high level.
- Evaluation of oils & fats consumption in China will be given.
- With the increase of oils & fats import and soybean crushing, China's oil stock began to rebuild.
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