Indonesia and Malaysia are the world's first and second largest palm oil producers respectively. However, the epidemic has obviously affected the palm oil production in these two countries, and caused global palm oil price fluctuations, and many industries that rely on palm oil around the world also have a chain reaction.
The decline in output has also had a major impact on prices. According to the data released by FAO this month, the global vegetable oil price has been rising for 12 months.
The price of palm oil has more than doubled in the past year, so there are signs of falling recently. According to the report released by S&P Platts in June 14, the local palm oil futures trading price in Malaysia fell by about 10% on that day.
Palm oil is not only the main edible oil, but also an important industrial raw material. From chocolate to cosmetics, many commercial products are inseparable from it. Therefore, the change of palm oil price may also bring some price pressure to the downstream industrial chain.
Palm oil:
Palm oil is a tropical woody plant oil, which has the largest output, consumption and international trade volume in the world at present. Together with soybean oil and rapeseed oil, it is also called "the three largest vegetable oils in the world" and has a history of more than 5,000 years.
Palm oil is an important part of the world oil market, accounting for more than 30% of the world oil production. Oil palm is a kind of crop that blooms and bears fruits all year round. The commercial production of oil palm can last for 25 years!
Affected by the expansion of global palm oil planting area and the increase of mature palm oil area, the global palm oil production continued to increase in 20 12, or reached a record high.
At the end of 20 12, the domestic palm oil spot market picked up, mainly because the "two festivals" demand started to stimulate terminal traders to speed up procurement. But at the same time, the speed of domestic palm oil import to Hong Kong has accelerated, far exceeding the growth of demand; The import cost of palm oil has decreased, and the long-term expectation is lower.