In 2005, China's domestic vegetable oil consumption will reach 19 million tons

Introduction: from Zhengzhou grain wholesale market, we learned that at the "2006 oil and fat market outlook meeting and enterprise risk aversion and profit increase forum" held in Sanya on November 25-27, the consumption of vegetable oil in China is increasing rapidly In 2005, the consumption of vegetable oil in China will reach 19 million tons, of which over 6 million tons are imported, making it the largest country in vegetable oil import Relevant experts pointed out at the meeting that under the condition of increasingly integrated domestic and international markets, if domestic oil and grease enterprises, especially national oil extraction enterprises want to be invincible in the market competition with international large companies, they urgently need to improve market risk awareness and risk prevention ability, and build a long-term The mechanism of avoiding risks and increasing profits can realize the sustainable operation of enterprises At the meeting, experts from the Department of economy and trade of the national development and Reform Commission and the Department of foreign trade of the Ministry of Commerce introduced the policy issues of promoting the development of China's soybean industry and the relevant trend issues of the management policies of vegetable oil import next year According to the two experts, in the environment of China's accession to the WTO and full integration of domestic and international markets, the domestic soybean industry and oil extraction industry are facing huge competitive pressure Due to the lack of market and risk awareness, the relevant enterprises have suffered relatively large losses in the past two years However, our tuition fees cannot be paid in vain On the one hand, relevant associations and chambers of commerce should play an active role in the development of soybean industry and oil industry, and ensure the interests of national industry and orderly market competition through industry self-discipline and unified coordination; on the other hand, relevant enterprises should improve market and risk awareness as soon as possible, and realize the development of enterprises on the basis of effectively preventing market risks Relevant leaders of Dalian Commodity Exchange pointed out at the meeting that giving full play to the price discovery and hedging functions of futures market can create a long-term hedging mechanism for oil companies In order to meet the growing demand of oil companies for hedging, Dalian Commodity Exchange is actively applying to the competent authorities for listing soybean oil futures contracts, and hopes to trade soybean oil futures as early as possible Experts from COFCO futures and Guangdong Dongling group believe that the listing of soybean oil contracts will provide oil companies with a complete series of hedging tools from soybean raw materials to soybean meal and soybean oil products, providing an effective means for the national oil industry to hedge and increase profits; oil companies need to actively study and use the futures market, through the use of futures market and spot market At the same time, two experts introduced the methods and skills of hedging in the futures market to the representatives of oil and fat enterprises attending the meeting, and analyzed the relevant operation examples At the meeting, experts from Brazil commodity exchange, Zhengzhou grain wholesale market, Shanghai Cargill investment China Co., Ltd and national grain and oil information center also analyzed and introduced the supply-demand relationship and market trend of domestic and international oil and oil markets The meeting was jointly sponsored by China vegetable oil industry association and Dalian Commodity Exchange, with more than 200 representatives from national oil and fat enterprises It was fully discussed and exchanged on how to avoid business risks and the future situation of oil and fat market.