For the reduction of prices for vegetable oils cheaper oilseeds
the Increase in global soybean production compared to the previous season by 10% to a record 348,2 million t led to a rise in ending stocks in exporting countries (US, Argentina, Brazil) and importers (China and India). Oversupply and falling demand from buyers continues to put pressure on the markets. An additional factor influencing prices is the active growth of palm oil production.
On the Malaysian stock exchange in Kuala Lumpur July futures on palm oil during the week declined a $2.25/ton to 665,25 $/t, and the September – 11 $/t to 627 $/t
In Chicago yesterday soy depreciated from 340 $/t to 336 USD/ton, and soybean oil – 696 $/t to 691 $/t
After world keep falling European prices for oil. So, soybean oil fell by 17 € /t to 726 € /t for deliveries in July, and sunflower – in the $7/ton to 790 $/t
the Downward trend of the world markets affected the demand price of unrefined sunflower oil in Ukraine, which for weeks had also decreased. As of may 29, the price dropped to 730-735 $/t on FOB basis, although a week ago she was offered 735-740 $/t
because of lower prices for oil and strengthening of the hryvnia rapidly falling prices for sunflower. In addition, most processors have already acquired the necessary amount of raw material and stop buy or drop the price below market.
during the week, sunflower prices fell by RS 300-500/MT and now are:
- 10300-10500 UAH/t on FCA car buyer
- 10500-10900 UAH/t on CPT plant.