The State Will Sell 300 Thousand Tons Of State Reserve Edible Oil To Curb Rising Prices.

300 thousand tons national temporary storage Edible oil It will be sold to the market on 20 October. This is the first time this country has thrown out edible oil on the market for the first time this year.

Industry analysts said the move was intended. Inhibition Current edible oil prices Rise Momentum.

300 thousand tons rapeseed oil as soon as possible

According to the announcement of the national grain and oil trading center, the edible oil sold for sale is 300 thousand tons of rapeseed oil temporarily stored in the state. The buyer must promise to buy Edible vegetable oil as soon as possible in the market.

Since August this year, the spot price of edible oil in China has surged, reaching the highest level since the financial crisis in 2008.

According to the monitoring of China's oil and fat store in China's grain reserves, as of yesterday, the export price of vegetable oil in the main vegetable oil producing areas in China was 8400-9500 yuan / ton, up 600 yuan / ton compared with the same period in September. The price of soybean oil has increased more fiercely. For example, the first class soybean oil price has reached 9250 yuan / ton, which is more than 1000 yuan / ton over the same period in September.

The trend of price increase has begun to transmit to the terminal market. Yesterday morning reporter yesterday learned from the wholesale market of the Jiangyang agricultural products that after the national day, the price of edible oil has been raised, of which each box (Note: a box containing 4 barrels, 5 liters per barrel), the sea lion soybean oil rose from 164 yuan to 180 yuan, and the golden dragon fish blend oil rose from 225 yuan per box to 225 yuan. Zhao Zhiwei, Secretary General of the association of grain and oil industry, also confirmed that since August, the retail price of soybean oil supermarket in Shanghai has increased by 6 yuan on average of 5 liters.

Zhao Zhiwei said that this rally is not only driven by the futures market, but also affected by many factors, such as the increase in import costs, the rise in domestic soybean purchase price, the increase in agricultural products and inflation expectations, and the demand for stocking in the selling season. Customs statistics show that the average price of imported soybeans has maintained a 3 month upward trend since July this year.

"Various regulatory measures can also be implemented".

Analysts in the industry have different opinions on whether the 300 thousand tons of national cooking oil can play a cooling role in the market.

Wang Aihua, a futures analyst at Tokyo, believes that the news has already appeared in the market. Now the news is certain that it is only a bad thing and will not have a big impact on the price trend. Zhou Siran, an analyst at CIC, believes that the short-term release of temporary oil storage may improve the supply of the market and stabilize the price rise, but it can not change the long-term rise in the price of edible oil. "China's edible oil has a high degree of dependence on foreign countries, of which 60% of soybean oil comes from imports, and 1/3 of soybean processing capacity comes from foreign enterprises. The price of imported soybeans has a greater impact on China's oil crushing enterprises."

Wang Aihua and Zhou Siran both indicated that the global soybean prices are rising at the current stage of the expected impact of the US soybean reduction.

However, Zhao Zhiwei believes that the current situation of the popularization of agricultural products has attracted great attention from the government. The government has great determination to control agricultural products. Under the condition of adequate state inventory, the government has various measures to regulate edible oil. It is reported that since 2008, the China Grain Reserve Management Company, which is responsible for the national grain and oil storage tasks, has accumulated about 2 million tons of cooking oil, accounting for about 1/10 of the country's annual consumption of edible oil. In addition, millions of tons of temporary storage and storage of soybeans are waiting for storage.