CCFT Holdings Pte. Ltd., was invited to attend the 5th (2024) Global Oils and Oilseeds Industry Summit

During 28-29 March 2024, the 5th (2024) Global Oils and Oilseeds Industry Summit which was jointly hosted by China Chamber of Commerce for Import and Export of Foodstuffs, Native Produce and Animal By-products (CFNA), Malaysian Palm Oil Council (MPOC) and Galaxy Futures Co., Ltd. was successfully held in Nantong, Jiangsu Province. Focused on the developing trend of global grain and oil industry, this forum offered a platform for global market communication and promoted the sound and steady development of this industry. Wu Shupeng, business manager of CCFT Holdings Pte. Ltd., (referred to as our company), was invited to attend this forum.

As impacted by expectations of US interest cut, global stock rallies, Red Sea Crisis, foreign market start restoking inventory and late consumption season of Chinese Spring Festival, China agricultural export saw a growth for six consecutive months at year-on-year basis, since September of 2023. Meanwhile, China agricultural import volume declined serially since July 2023 at year-on-year basis, overlaid the influence of slow growth of domestic consumption, overcapacity in several sectors such as pigs, decline of RMB rate and global commodity prices.

In response, this summit invites heads of related governing authorities, specialists and professors from research institutions and leading companies aimed to predict market trend of this year through giving comprehensive interpret to regulations and policies and sharing market news and events.

By this forum, we have collected more definitive market information and been inspired by specialists’ opinion on current market situation. We have also gathered reliable supporting information for the development our vegetable oil business this year through well communication with our major supplier and customers.

Contributed by: CCFT Singapore