The rise in oil prices supported prices for vegetable oils

the growth of the futures on Brent crude to 86 $/barrel has become a powerful factor of support prices for vegetable oils, which amid record world production of oilseeds has fallen to low levels. The growth of oil prices to a four-year high was the result of the introduction of U.S. sanctions against Iran, which will reduce the supply of oil on the world market. While OPEC agreed to increase production to cover these deficits.

the Price of palm oil on the Malaysian stock exchange, rose 1.8% to 532 $/t, which has a maximum of two weeks. Palm oil in large quantity used for biodiesel production, so the demand from the fuel industry will be able to boost exports. Palm oil stocks in Malaysia at the end of August rose to 7-month high and amounted to 2.5 million tons and reserves in Indonesia is generally estimated at 5 million tons.

the price of soybean oil has also shown rapid growth since the beginning of the week and increased by 2.4% to 657,8 $/t Support price for soybean oil lingering precipitation in the area of soybean production in the United States, which delayed the harvest and may reduce yields. Prices for soybeans in Chicago also increased from the beginning of the week and are now at 316 $/t. Traders expect the data about growth of export sales in the United States for this week and increase exports.

In Ukraine, the price of sunflower oil remained under pressure from the new harvest and traded at the level of 650-660 $/MT FOB for deliveries in October-November. Dry weather gives the opportunity to collect a good harvest. As of October 3, with 48% of the area harvested 2 million tons of soybeans with a yield of 2.49 t/ha and 64% of the area is 8.3 million tons of sunflower with a yield of 2.16 t/ha.