According to the Report on Supply and Demand of Soybean Oil in Various Countries and Regions in the World issued by USDA (see the figure below, unit: million tons), from 2006 to 20 10, the output and consumption of soybean oil in China increased, and the output of soybean oil was always lower than the consumption. According to the latest forecast of USDA, the annual output of soybean oil in China in 12/ 13 will reach11750,000 tons, which is the same as last month's forecast. Consumption will reach 6.5438+0.294 million tons, an increase of 30,000 tons compared with last month's estimate. The expected output is less than the consumption1190,000 tons. 12/ 13 has an inventory of 620,000 tons at the beginning, and it is estimated that the pure imported soybean oil 15 1 10,000 tons will have an inventory of 940,000 tons at the end of the year, which is the highest level in the past five years. Soybean oil imports exceed the gap between soybean oil production and consumption, and soybean oil stocks continue to increase, which does not support the sharp rise in soybean oil prices.