Report Summary 1. Report Industry Investment Rating No information provided in the content. 2. Core Viewpoints - Global vegetable oils: Sunflower oil is the fourth-largest vegetable oil globally, with its total production approaching that of rapeseed oil. Zhengzhou Commodity Exchange plans to steadily advance the research and registration of sunflower oil futures [4]. - Supply and demand in China: In China, the supply of sunflower oil raw materials comes from both domestic cultivation and imports, and the supply of refined oil is about half domestic production and half imports. The consumption of sunflower oil is significantly lower than that of palm oil, soybean oil, rapeseed oil, and peanut oil, but higher than that of linseed oil, olive oil, and camellia oil. Its pricing needs to consider both domestic and international factors [4]. - Substitution potential: Refined sunflower oil and refined peanut oil have similar fatty acid ratios and smoke points, and may have a strong substitution relationship in the Chinese catering industry. If global sunflower seed cultivation increases, it may reduce the overall cost of China's catering cooking oil [4]. - Production and consumption: Domestic oil - pressing enterprises have mature processes and market experience in sunflower oil production, and some well - known brands have been accepted by consumers. The delivery standards of sunflower oil are expected to be widely accepted by producers and the catering industry [5]. 3. Summary by Directory 3.1 Oil - used Sunflower: An Annual Herbaceous Oil Crop in Mid - Latitude Regions, Neighbor to Spring Rapeseed - Global status: Sunflower oil is the fourth - largest vegetable oil globally. Oil - used sunflower (oil - used sunflower) is one of China's five major oil crops. It is rich in linoleic acid and is known as the "healthy and nutritious oil" of the 21st century [21]. - Cultivation in China: In China, oil - used sunflower is mainly planted in northern provinces. It is usually sown in spring when the soil temperature at 10 cm depth is above 10°C, and harvested from August to September. It has stronger adaptability to soil pH than rapeseed, and mechanical harvesting can be considered in large - scale farms [21]. - Comparison with rapeseed: Oil - used sunflower and rapeseed are comparable in terms of oil - producing potential, but they have significant differences in crop morphology, growth laws, and cultivation requirements. Factors such as soil alkalinity, the need for large - scale mechanization, and local high - yield demonstration fields should be considered when choosing between them [25][26]. 3.2 Can Sunflower Oil Rich in Linoleic Acid Omega - 6 Integrate into Chinese Cuisine? - Consumption form: In China, sunflower oil is mainly for edible consumption, and it is unlikely to be used as a raw material for biodiesel under current policies. The retail and wholesale prices of sunflower oil are usually lower than those of peanut oil and higher than those of genetically modified soybean oil [28][30]. - Fatty acid composition: Sunflower oil and peanut oil are similar in fatty acid distribution, both being rich in linoleic acid. They may have a strong substitution relationship in Chinese cuisine, although the current annual consumption of sunflower oil in China is less than 5 million tons [30][35]. - Smoke point: The smoke point of sunflower oil is generally defined as the lowest temperature at which it produces continuous blue smoke when heated without ventilation. Refined sunflower oil can reach a smoke point of over 190°C, meeting the requirements of most Chinese restaurants. If sunflower oil futures are launched, the delivery standard is likely to be "national standard grade 3", which can be refined to "national standard grade 1" to meet catering needs [36][40][43]. 3.3 Import of Sunflower Oil: A Reference for the "Full Customs Process" - Sunflower oil import process: The import of sunflower oil requires overseas production enterprise registration, importer and exporter filing, and compliance with customs declaration document requirements. Customs conducts qualified assessment upon arrival, and there are specific storage and transportation requirements for bulk sunflower oil [49][50][51]. - Sunflower seed import: Sunflower seeds are a long - term trade surplus product in China. The import volume shows an upward trend. They are classified as "oilseeds" by customs and need to obtain the "Entry Animal and Plant Quarantine Permit" [56]. - Current market products: There are many well - known domestic sunflower oil brands, each with its own characteristics, such as market share, quality, and health - related features [58].