Industry viewpoint: the price trend of new rice may be attached to the policy.

At present, the price trend of new rice may be attached to the policy, the temperature in the southern sales area is also higher, and there is more precipitation in the south this year, and the storage environment is not conducive to the massive hoarding of rice. coupled with the phenomenon of strong and weak rice, the market is not optimistic about the price trend of rice, and the enthusiasm of processing enterprises for purchasing and processing is low. On the whole, domestic policy rice is still facing greater inventory pressure. The minimum purchase price has not continued the rising trend in previous years, and it is expected that under the support of the minimum purchase price policy, the price trend of the new rice market is basically dependent on the policy price, and the rice purchase market this year may be similar to that of last year.

In the future, the performance of soybean oil will be better than that of palm oil. Although China still maintains all imports of palm oil, the import volume has obviously shrunk. In the first quarter, China imported 696700 tons of palm oil, down 45 percent from the same period last year, and domestic vegetable oil imports declined significantly. This also confirms that oil imports have squeezed out the "financing water". The pressure on soybean imports in the first four months was not great, while domestic imports of soybean oil in the first quarter were 86200 tons, down 69 percent from the same period last year, and the degree of import dependence was far lower than the historical average. Without a significant increase in supply, some soybean oil has replaced palm oil consumption. From the perspective of destocking, the destocking of soybean oil is stronger than that of palm oil, and there is more room for inventory to continue to decline, so soybean oil will perform better than palm oil in the future.