Prices for soybeans and sunflower in Ukraine continue to grow rapidly

2020-01-10 12:16:15
Machine translation
Prices for soybeans and sunflower in Ukraine continue to grow rapidly

Rise in price of vegetable oils and accumulated over the long weekend demand pushed up the purchasing prices for soybeans and sunflower in Ukraine.

 

Since early year prices for sunflower increased by 100-200 UAH/t to 9700-10600 UAH/t with delivery to the plant and 9300-9800 UAH/t on the French economy. Processors that before the new year has stopped through the purchase of large stocks of raw materials, now raise prices to activate the purchase order against the background of rising prices for oil to form new reserves.

 

the Promised abolition of "soy edits" have stopped selling producers of soybeans for the hryvnia in anticipation of a price increase by the exporters. Due to the shortage of soybean processors increased prices by 300-400 UAH/t to 9400-9500 UAH/t with delivery to the plant. Export procurement prices for soybeans remain at 350 $/t in the port and 360 $/ton, soy protein 38% non-GMO on the border with Poland and Belarus.

 

Additional purchase prices supported the growth of the exchange rate by 3% to 24.1 UAH/$ for the last two weeks.

 

Rise in price of palm oil, which began in October, support prices for Ukrainian sunflower oil, which rose to 810-820 $/t FOB for shipments in February-March.

 

against the background of reduction of stocks and the decision by India to limit imports of refined palm oil futures palm oil in Malaysia rose yesterday by 2.3% to 3110 Ringgits/t or 765,22 $/t, offsetting a fall last week.

 

at the End of December 2019 palm oil stocks in Malaysia stood at 2.07 million tonnes, which is 8.4% lower than the level of the previous month and the lowest figure since September 2017, This is due to the reduction in production in December compared to November by 12.3% to the lowest in 18 months level of 1.35 million tons.

 

tensions between the U.S. and Iran, which caused the rise in price of oil decreases, making the prices of soybean oil in Chicago dropped to 764,5 $/t

 

From today's report, USD a material adjustment to the balances of oilseeds not expect, and the focus of traders focused on forecasts of production and consumption of palm oil, which in the 4th quarter of 2019 was the main driver of price growth on vegetable oil.

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