Frbiz Reports Soybean Oil Prices Will Decline After the Chinese New Year

BEIJING, Feb. 20 /PRNewswire-Asia/ -- Frbiz.com, one of China's leading B2B search platforms, reports soybean oil prices will decline after the Chinese New Year.

Frbiz reports that soybean oil wholesale prices have been falling from a month ago, the 7,800 yuan / ton down to the current 7,400 yuan / ton. If the U.S. soybean imports to Hong Kong, the raw material cost reduction coupled with the low season for the Spring Festival, followed by edible oil, soybean oil also will decline as compared with the current prices. Their price will lower 5%, the price at 7,000 yuan / ton.

In a month, a ton of soybean oil dropped 400 yuan.

Soybean oil prices recently have been uncharacteristic in the commodity market. The prices of other goods generally rise while the soybean oil prices are falling.

Frbiz said that in December last year, the wholesale price of soybean oil has always been on the decline. As compared with the previous month, the current price of soybean oil fell 400 yuan per ton.

Although the prices fell, soybean oil (http://frbiz.com/catalog-13000000-1/Food_Beverage.html) sales are not as good. As edible oil prices began to drop, there were already a large number of companies with sufficient reserves of oil, so the recent sales are not very ideal, coupled with the off-season after the Spring Festival. So Frbiz expects that soybean oil prices will fall slowly.

As soybean oil prices decline, the profits for dealers are not changed because their purchase price is relatively lower.

As the U.S. soybean imports arrived, the price per ton was lower than that of local soybean prices more than 600 yuan. Soybean oil production enterprises, in accordance with the use of local soybean 3740 yuan per ton, calculated the cost per ton of soybean oil needs -- 7,600 yuan - 7,500 yuan. But the current wholesale price of soybean oil is 7,400 yuan / ton, so these edible oil producers have great survival pressure.

Frbiz expects that after the Spring Festival, due to reduced demand, soybean oil prices will continue to slow down in the short term. It is expected the range will reach about 5%.

About Frbiz.com

Frbiz.com is a promising e-commerce company and a leading vertical search engine company in China. Frbiz.com offers a variety of high quality products such as GSM cell phones  (http://www.frbiz.com/q-cell_phones_gsm/), Nextel phones (http://www.frbiz.com/q-nextel_phones/), Treo 650 (http://www.frbiz.com/q-treo_650/) and many more.

SOURCE Frbiz.com