Sunflower prices are rising in support of the vegetable oil markets

2019-11-06 12:26:53
Machine translation
Sunflower prices are rising in support of the vegetable oil markets

In Ukraine sunflower prices after seasonal fall finally began to grow with the support of price hike of vegetable oils.

 

Futures on palm oil in Malaysia in two weeks grew 8.3% to 609,1 $/t amid lower production and increased demand.

 

Futures soybean oil in Chicago after a jump Monday was dropped to 696 $/t in anticipation of signing a trade agreement between the US and China and increased forecasts of exports of soybeans and products from it against the background of reduction of the crop.

 

as a result, the EU, the prices for sunflower oil rose to 747,5 $/t FOB, and rapeseed – to 810 €/t FOB DM, which is a 6-month high.

 

After the rise in price of vegetable oils bid prices on the supply of Ukrainian sunflower oil in December and January increased by 5-10 $/MT, crossed the psychological level of $700/t and are within 695-705 $/t FOB. This gave impetus to the growth of purchasing prices for sunflower seed, due to rich harvest remained at a record low.

 

In Ukraine as of November 4, with 5.7 million hectares, or 98.2% of areas harvested to 14.04 million tonnes of sunflower with a yield of 2.44 t/ha (2,24 t/ha in 2018), which exceeds the figure of last year. Experts believe that with the yields of private households, which are not shown in official statistics, the harvest of sunflower will be 15.5 million tons.

 

For the week, the purchasing prices for sunflower increased by 100-200 UAH/t to 8300-9600 UAH/t with delivery to the plant and 8400-8600 UAH/t on the Franco-sector depending on the region. Farmers sell mostly corn and sunflower hold pending the recovery of prices to 9000-9500 UAH/t on the French economy.

 

Processors have high stocks of sunflower, as part of the capacity was devoted to soybean processing. During January-September 2019 the production of crude soybean oil in Ukraine increased by 48.7% to 221,15 kt, which was used 1.1 million tons of soybeans.

 

Record harvest of sunflower in Russia puts pressure on the prices for sunflower oil and seeds. As of 5 November, in a country with 7.7 million hectares, or 90% of the area harvested 14.1 million tonnes with a yield of 1.85 t/ha, whereas on this date in 2018 was produced 11.4 mln tonnes of sunflower with a yield of 1.58 t/ha.

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