cottonseed oil

China sees booming cottonseed oil Market. On March 16 2004, second-grade cottonseed oil was quoted at CNY 7.2 thousand (USD 1 = CNY 8.2770) per ton while the selling price was CNY 7,000-7,100 perton in Handan City, Hebei Province. There were barely sales in the area. The rise of the cottonseed oil price in Xingtai City has greatly affected cottonseed oil price here. Though buyers are keen to buy cottonseed oil, the price of is unacceptable. The rise in cottonseed oil price resulted from the rise in cottonseed price. Cottonseed oil prices remain stable following a recovery in the crop after a poor harvest a year ago. Nevertheless, the market has been held back by soft oil prices throughout the world, reducing the premium that cottonseed oil has over cheaper oils, such as soy. The US cottonseed oil market continues to be kept down by the global oilseed glut, despite improvements in the fiber and seed markets. Over the last two years, poor weather has hampered US cotton production, but reduced foreign supplies should further improve fiber pricing, enticing farmers to increase their output.