Purchase prices for sunflower growing in line with quotations for soya beans and oil in the United States
After a brief lull in the vegetable oil markets yesterday resumed their growth. Palm oil after three days of decline gained 2.6%, and soy – just 3.6%, which led to higher prices of sunflower oil and purchase prices for sunflower seeds in Ukraine to a record level.
Futures soybean oil on the stock exchange in the United States yesterday increased by 20 $/t to the highest level 847,9 2014 $/t overall for the month, up 15% on higher oil prices, soy and forecasts of the shortage of rainfall in South America in the next two weeks. The news about the vaccine coronavirus adds to the stock exchanges optimism, although traders do not take into account the rapid growth in the number of patients and the strengthening of quarantine in many States, while mass vaccination will begin only after 4-6 months.
crude oil Futures yesterday rose 1.5%, while soybeans rose by 1.1% to 431,6 $/ton, although during the session reached the level 436,8 $/t
After market of soy oil February futures for palm oil exchange in Malaysia yesterday rose 2.6% to 3364 rmitv/t or 823,5 $/ton, after falling earlier in the week.
bid Prices of Ukrainian sunflower oil rose yesterday on a $50/ton to 1150-1160 $/t FOB, while the bid price has risen to 1090-1100 $/t FOB, but willing to sell at that price was not.
the Purchase price of sunflower in Ukraine rose to a record 650-655 $/t or 18400-18500 UAH/t with delivery to the factory or port. Companies have stocks of raw materials, halted the price level 17300-18000 UAH/t. Producers are holding back sales in expectation of price level 20000 UAH/t Between processors increases competition for sunflower, as the demand for sunflower oil at a record high price has bounced on the background of rise in price of other oils.
According to the experts of Oil World, India in October increased compared to September, imports of vegetable oils from 1.14 to 1.28 million tons, which is inferior to 1.51 billion tonnes of October 2019 In particular, the import of palm oil increased from 604 to 820 thousand tonnes (919 tonnes in 2019), sunflower – from 67 to 171 thousand tonnes (182 tons), while soy has decreased from 417 to 278 thousand tons (400 thousand t in October 2019).
