Sunflower prices fell due to decreasing prices for vegetable oil

2020-12-01 12:04:36
Machine translation
Sunflower prices fell due to decreasing prices for vegetable oil

Due to a lack of sunflower seeds in Ukraine we have a situation when refiners are forced to buy expensive raw materials, not being able to sell oil for the highest export price. Recently, however, amid falling prices for sunflower and other vegetable oils sunflower prices also declined.

 

Yesterday purchase prices for sunflower seeds fell by 100-200 UAH/t to 19000-19500 UAH/t with delivery to the plant after the sunflower oil fell to 1120-1150 $/t FOB. Makers who a week ago asked for the sunflower 19800-20200 UAH/t, and again stopped the sale, because after the increase in the price per month to 5000 UAH/t was a surprise decline for the week from 1000 UAH/t

 

High prices for vegetable oil have led to decline in demand from importers and better weather in South America has eliminated the last factor supporting prices.

 

Futures on palm oil exchange in Malaysia after Friday's speculative growth of 3.4% yesterday fell 1% to 3305 Ringgits/t or 811,44 $/t on data on exports of palm oil in comparison with October 16.5-18.9 per cent.

 

the market presses lower prices on the Chinese stock exchange Dalian palm oil at 2% to 6614 yuan/ton, and soy 0.5% to 7725 yuan/ton, or 1175 $/t

 

Reduction of demand from China puts pressure on quotations soybeans and especially oil on the stock exchange in the U.S., where futures on soybean oil fell 2.3% to 831,5 $/t, demonstrating the highest daily fall in the last two months.

 

bid Prices of Argentine soybean oil after reaching a level of $1,000/MT FOB dropped to $950/MT FOB, intensifying its competition with sunflower oil, especially for the Indian market.

 

Reduction in India's import duties on crude palm oil (SRO) to 27.5% will increase the demand for it that will recover the lost over increase of imports of soy and sunflower-seed oil market share. The greatest benefit of Indonesian palm oil, as Malaysia's dismissal of the export duty on the SSA completed December 31, 2020 And the low prices of palm oil in the near future will increase the pressure on the markets of soybean and sunflower oil.

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