Vegetable oil prices fall despite strike by Port workers in Argentina
< span style="font-size:14px;" > a two-day strike of port operators continues in Argentina, which may develop into an indefinite one if the authorities do not comply with the conditions of trade unions. However, soybean oil prices on the Chicago Stock Exchange ignored the suspension of exports from Argentina and fell after palm oil prices, which are under pressure from falling oil prices.
< p> < span style="font-size:14px;" > July Brent crude futures fell 2.6% to 6 64.9/barrel yesterday, and WTI crude futures fell 2.28% to.61.9/barrel under pressure from news about a possible increase in Iran's exports in the near future, as negotiations on the return of the United States and Iran to the Joint Comprehensive Plan of Action (JCPOA) on the Iranian nuclear program are quite active.
< span style="font-size:14px;" > on the Malaysian stock exchange, August palm oil futures fell 4.4% yesterday to 4112 ringgit/t or 9 992.16/t following the oil market and amid an increase in cases of Covid—19 diseases in the country, which may lead to another lockdown.
< span style="font-size:14px;">July soybean oil futures fell another 1.5% to 1 1,442/ton yesterday, and December – by 0.3% to.1,263/ton, losing 5.3% and 4% of prices from Monday, respectively.
on the Dalian Exchange, July soybean oil futures fell by 1% to 1 1,380/ton, and palm oil futures – by 0.5% to 1 1,259/ton. < / span> < / p>
< span style="font-size:14px;">prices for Ukrainian sunflower oil have stabilized at F 1,550/ton FOB, but supply and demand remain low. At the same time, supply prices for oil supplies in October - November from seeds of the new crop increased to 1 1,250,1550/ton FOB due to active demand.
< span style="font-size:14px;">the decrease in sunflower stocks has already led to the shutdown of some processing plants and a decrease in demand for raw materials. As a result, purchase prices for sunflower seeds have fallen from UAH 24,500-25,000/ton to UAH 23,000-24,000/ton with delivery to the plant since Monday.
