The price of sunflower oil reached the record level
the price of palm oil rose yesterday on a $2.25/ton to a one-week high 474,5 $/t with the support of the data about export growth in July. According to the company Amspec, Malaysia in the first half of July 636,8 exported thousand tons of palm oil, which is 3% higher than in June, whereas the ITS data showed an increase of 11.6%, and SGS - 0.4%.
Futures soybean oil in Chicago, which grew after the release of the report USDA yesterday, under the pressure of falling prices for soybeans dropped to 633 $/t. prices presses reduce the volume of soybean processing in the United States in June by 3.8% compared with may and by 6.5% in comparison with June 2018
On the news about the postponement of the delivery of 10 PCs of South American soybeans to China from July to August due to low demand from processors and restarting plants, the price of soybeans fell in the $7/ton to 336,3 $/tonne, despite an increase in exports of soybeans from the U.S. for the week by 12% to 854,3 thousand tons (of which half are shipped to China), which is 34% higher than last year.
Export prices for Ukrainian crude sunflower oil rose to a maximum 2018/19 Mr 740-746 $/t FOB Black sea for deliveries in August, while spot supplies are estimated at 745-750 $/t
Prices are rising due to high demand from buyers and the lack of proposals. Despite significant crop sunflower stocks in Ukraine the market is estimated as small, and the strengthening of the hryvnia is not conducive to enhancing sales.
the prices of the new harvest amid high European prices for sunflower oil at 690 $/t FOB for shipments in the 4th quarter.
Spot prices of sunflower oil in the EU rose to its highest annual level 760 $/t and for delivery in the 4th quarter – up to 735 $/t
India reduced the import of vegetable oils in June, up 9.5% to 1.11 million tonnes, although imports of sunflower oil rose to 161,5 thousand tons, and soy – remained at the level of 222,5 thousand tons the Import of palm oil decreased by 16% to 686,8 thousand tons.
