Overview of the sunflower oil market and prospects for the first half of 2022 in China

Published 2022년 7월 12일

Tridge summary

The price of sunflower oil in China's domestic market has seen significant fluctuations and growth in the first half of 2022, with a year-on-year increase of 25.37% as of June 30, driven by geopolitical tensions in Russia and Ukraine leading to reduced global vegetable oil supplies. The high prices are due to a combination of limited domestic stocks and difficulties in importing sunflower oil, despite the decline in crude oil market influences. The high price of sunflower seed crude oil is further supported by limited domestic high-quality sunflower seeds, which are essential for oil production. Import data shows a sharp year-on-year decrease of 33.92% in sunflower oil imports to China in the first half of 2022, indicating a downward trend in overall imports for the year.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

In the first half of 2022, the price in the sunflower oil market as a whole will fluctuate and grow. As of June 30, 2022, the domestic price of first grade sunflower oil was 16,800 yuan/t, up 4,700 yuan/t from 12,100 yuan/t at the beginning of the year, up 38 from the previous month. 84. %, and year on year increase to 13,400 yuan/ton, up 3,400 yuan/ton, (25.37%) year on year. With the situation in Russia and Ukraine and the reduction in global supplies of vegetable oil, the demand for sunflower oil in the domestic market in the first half of 2022 is sluggish, and there is a strong wait-and-see atmosphere throughout the industry. In the second half of the year, a new sunflower seed season will begin, the dynamics of the situation in Russia and Ukraine and changes in market demand will continue to be in the spotlight. After the Spring Festival in 2022, sunflower oil entered the traditional off-season, and demand for it was weak. At the end of February, under the influence of the ...

Source: Oilworld