The rise in price of palm oil will support the price of sunflower oil

the rising oil prices, the price of soybean oil by $10/t to 639 $/t was another factor supporting prices for palm oil, which now, with increased production forecasts and final stocks are low 2 months, and last week fell to a three-year low.

palm oil Stocks will rise due to Indonesia, where in comparison with the last year production will grow by 4-5 million tonnes, While Malaysia will reduce production and palm oil stocks in December reached a peak of 2.9 million tonnes.

According to the forecast Agency LMC International, at the end of the year prices for crude palm oil CIF Rotterdam will grow to 590 $/t due to the active demand from biodiesel producers.

Experts Oil World believe that in 2018/19 MG India will increase imports of vegetable oils to 15.4 million tonnes, down from 14.6 million tons predicted in season 2017/18.

in Particular, compared to the current season, is expected to increase import

soybean oil – 3 to 3.08 million tons,

sunflower oil – from 2.51 to 2.55 million tons.

• palm oil - from 8.63 to 9.28 million tons,

the increased demand from India may support prices for Ukrainian sunflower oil, against the background of record sunflower crop fell to $650/t. But farmers are in no hurry to sell sunflower seeds at competitive prices, forcing manufacturers to increase procurement prices to attract volumes of raw materials, despite the decrease in the refining margins.