Ukrainian sunflower oil continues to rise

the vegetable oil Markets remain unstable, and after a temporary fall they again resumed its growth, offsetting the loss of last week.

the Driver of growth were the weather conditions in South America, where there is dry weather, though we need to start sowing soybean. According to experts, rainfall in these regions is expected to increase due to La Nina, which begins this season. This phenomenon has caused heavy rains in Malaysia and Indonesia, which led to the reduction in the production of palm trees and higher prices for palm oil.

Dry and warm weather in the US contributes to the collection of soybeans, which as at 4 October threshed 38% of squares, compared to 12% last year and 28% on average for 5 years at that date.

an Increase in supply from the new harvest is not yet affected prices, although they typically fall when the crop is harvested by 50%.

December futures on palm oil exchange in Malaysia rose yesterday by 1.9% to 2780 Ringgits/t or 690,73 $/t, which is 6% higher than last week.

December futures for soybean oil in the United States yesterday at the beginning of the session grew after soybean prices, but then under pressure from falling oil prices, fell 0.3% to 724,4 $/t

Oil prices fell yesterday because of the uncertainty with the pace of global economic recovery and oil demand.

bid Prices of Ukrainian sunflower oil since the beginning of the week increased to 70 $/t to 950-960 $/MT FOB for deliveries in October and November amid supply shortages and rising markets, soybean and palm oil.

the bid Prices for sunflower oil for the week rose from 850-860 to 890-920 $/t FOB, however, processors are holding back sales, as sunflower prices continue to rise, making the refining margin was negative.

In Ukraine as of 7 October from 4.4 million hectares or 69% of the area harvested 8.3 million tons of sunflower seeds with a yield of 1.9 t/ha But yields in Western and Northern regions 2.3 to 3 t/ha can provide the crop at 14 million tons.

This week, the sunflower harvest was hampered by rain, but next week, dry weather will accelerate harvesting and to increase sentences on the back of high input prices.