Adjusting prices for vegetable oils lowered the purchase price of sunflower in Ukraine

2021-03-16 12:02:34
Machine translation
Adjusting prices for vegetable oils lowered the purchase price of sunflower in Ukraine

the Rapid growth last week, stock prices for vegetable oils ended speculative correction as traders began recorded profit after sales at record high prices.

 

In the vegetable oil slightly decreased, which led to the fall in the price of sunflower.

 

Over the previous week the price of sunflower in Ukraine grew by 2000-2800 UAH/t to a record 26500-27000 UAH/t or 950-970 $/t (for an oil content of 50% and above) with delivery to the plant, but declined sharply yesterday to 24800-26000 UAH/t after the falling prices of sunflower oil in the 30-40 $/t

 

bid Prices for Ukrainian sunflower oil last week reached 1700-1720 $/t FOB, and the price of the demand does not exceed 1650 $/t FOB, resulting bid prices fell to 1670-1680 $/t FOB, and demand, respectively, to 1620-1630 $/t FOB.

 

Yesterday's decline in stock prices for soybean and palm oil have lowered the price of oil, the prize for which was too high compared to other oils.

 

the May futures of palm oil on the stock exchange in Malaysia yesterday fell by 2.6% to 4020 ringgit/t or to 976, 5 $/t on forecasts of decline in exports over the 15 days of March compared to the same period in February 4.6 to 6.5%.

 

May futures for soybean oil on the Chicago stock exchange fell 0.5 percent to 1,220 $/t on evidence of a sharp decline in soybean in February.

 

According to recyclers Association (NOPA), the volume of soybean in the United States declined in February compared to January 16% to 17-month low of 4.22 million tonnes (with market expectations of 4.6 million tons), which is 7% lower than in February 2019 While soybean stocks at the end of February amounted to 797 million tonnes, which is 2.3% lower than the level of last month and 8.5% last year.

 

On the stock exchange in Dalian on Friday palm oil fell by 0.2% to 1231 $/ton, while soybean has risen by 0.6% to 1447 $/t

 

Brazil accelerates harvesting soybeans, which has been thrashed by 46% of the area compared to 59% a year ago. Crop forecasts are confirmed by at least 133 million tonnes, which increases the supply of soybeans on the world market and reduces the speculative demand for oil.

 

Precipitation, which will be held in Argentina in the coming days, will improve the condition of the soybean crop, which in recent weeks have suffered from drought and weaken the influence of weather factors on prices.

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