The price of sunflower oil continues to grow

2019-04-19 12:15:11
Machine translation
The price of sunflower oil continues to grow

Prices for Ukrainian sunflower oil continues to rise due to the supply reduction and also to support a resumption of growth in prices for palm oil.

 

palm oil Prices on the stock exchange in Kuala Lumpur has risen since the beginning of the week by 2.7%, but fell slightly yesterday and is trading at 527,1$/ton amid increased purchases of Malaysian palm oil from China. The depreciation of the Malaysian ringgit against the dollar, as the currency reduces the price of oil.

 

China and Malaysia signed an agreement for the construction of high-speed Railways between Malaysia and Singapore, as well as the increase in purchases of palm oil, last month in the framework of this agreement has already purchased 1.6 million tonnes of Malaysian palm oil.

last year, Malaysia exported to China 3.07 million tons of palm oil and palm products, which is 7.3% more than in 2017.

 

Futures for soybean oil on the stock exchange in Chicago yesterday recovered from its fall, up 1% and trading at 641,3$ / t

 

the bid Prices for Ukrainian sunflower oil continued to rise and added $ 3-5 since the beginning of the week to 665-670$/t FOB with delivery in June. While asking prices rose to 670-675.$ / MT FOB with delivery in June and 679-685.$/MT FOB with delivery in August.

 

the reduction in the supply of sunflower seeds is holding back the sale of oil from the refiners, because they can't buy seed at the current prices, and to increase purchase prices and reduce margins do not want to.

 

the Purchase price for sunflower seeds increased by 50-100 UAH and are at 10 700-11 200 UAH/t with delivery to the factories, and the price ex-farm is declared at 10 200-10 300grn/t

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