Prices for sunflower growing with the support of the market of sunflower oil

2019-12-17 12:05:16
Machine translation
Prices for sunflower growing with the support of the market of sunflower oil

the Purchase price of sunflower in Ukraine grow following quotations of sunflower oil, which is more expensive, with the support of markets for soy and palm oil.

 

After price hike of palm oil to the level of soybean palm oil exports started to decline despite the decrease in production led to lower prices. According to SGS, for 1-15 Dec Malaysia reduced the export of palm oil by 15.5% to 677,6 thousand tons, while the inspectors Amspec and ITS estimated the fall at 17.3% and 18.6%, respectively. The reason was the lower demand from India, which gave preference to imports of similar price, but the quality SVO and sunflower oil.

 

the Experts recyclers Association Nd (SEA) report that in November the country has reduced the import of palm oil by 3% to its lowest in 17 months level (primarily through a reduction in the purchase of Malaysian refined palm oil), while imports of soybean oil – 19% to 164,7 thousand tons, while imports of sunflower oil increased by 59% to 263,3 thousand tons

 

amid rising prices for soybean oil in Chicago, palm oil exchange in Malaysia yesterday rose by 1% to 688,6 $/ton after falling the previous week to 1.8%.

 

the January futures for soybean oil in Chicago yesterday continued the growth that began on Friday after agreeing perso phase trade deal between the US and China, and has risen by 20 $/t to 748,25 $/tonne, despite a pessimistic report NOPA soybean processing in the United States in November.

 

the bid Prices for Ukrainian sunflower oil grew by 5 $/t to 760-765 $/t FOB for January shipments, while the demand price reach 752-755 $/t FOB.

 

the Russian sunflower oil, according to the Agency SovEcon, in the last week have risen in price by 15 $/t to 720 $/MT FOB. The rising price of oil and reducing supply of sunflower is forcing refiners to intensify the purchase of to form stocks of raw materials in January and February, when trading activity usually drops.

 

In Ukraine sunflower prices for the week increased by 150-200 UAH/t to 9700-10400 UAH/t with delivery to the plant and 8900-9200 UAH/t on the French economy. Individual processors due to the congestion at the warehouses almost stopped the purchase, so the purchase prices are very different depending on the regions.

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