Sunflower prices falling after the oil quotes

2019-09-30 12:48:19
Machine translation
Sunflower prices falling after the oil quotes

amid the seasonal growth proposals sunflower and soybean oil and the reduction of consumption forecasts a continuing decline in prices for vegetable oil and, accordingly, the purchase prices for sunflower and soybeans.

 

Futures on palm oil in August fell to the level of pressure of the vegetable oils market and low export demand. The December contract for crude palm oil in Malaysia a day fell by 0.9% to 513, 6 $/t, and within 5 weeks by 5.8% amid increased competition.

 

December futures for soybean oil in Chicago for two weeks, dropped to 634,5 $/t

 

China has stepped up purchases of soybeans in the U.S. and purchased last week 1 million tonnes, making the prices of oilseeds increased at first up to 330 $/t. However, the long weekend in China have reduced demand, for Friday prices for soybeans dropped to 325,5 $/t

 

Prices for Ukrainian sunflower oil also declining amid rising demand and competition from other vegetable oils. Bid prices for delivery in November amount to 690 $/t FOB, while the bid price does not exceed 685 $/t FOB. The increase of the supply in Q1 2020 lowered the price to 680-690 $/MT FOB, while prices of demand for 675-678 $/t FOB.

 

In Ukraine on September 26, with 71% of the area harvested 9.6 million tons of sunflower seeds with a yield of 2.3 t/ha. In the Central, Western and Northern regions, the yield is higher than last year, so the harvest forecast at 15 MMT looks quite real.

 

the Purchase price of sunflower is minimal 8200-9200 UAH/t with delivery to the plant. Separate processors reduce the purchase through significant reserves, and the lack of storage space. Increasing processing capacity allows Ukraine to process the entire crop of oilseeds, but the shaft of the proposals enables the processors not to accumulate large stocks of raw materials and not to spend money on storage.

 

Soybean 55% of the area harvested 2 million tons with a yield of 2.34 t/ha and the total harvest may amount to 3.8 million t due To low export demand, the volume of domestic processing of soybeans will rise, therefore the processors will be loaded with raw materials up to the end of the season.

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