Falling prices for palm oil presses on the markets of oilseeds

2020-01-16 12:14:11
Machine translation
Falling prices for palm oil presses on the markets of oilseeds

March futures on palm oil exchange in Malaysia since the beginning of the week fell by 6.3% over the refusal of the Indian buyers to buy Melissa production due to the political disputes between the two countries.


Yesterday they fell by 2% and crossed the psychological level of 3000 Ringgits/t, down to 2945 Ringgits/t or 722,88 $/t


According to the estimations of surveyors, Malaysia in the first half of January 569,2 exported thousand tons of palm oil, which exceeds the corresponding figure of December, but inferior to expert expectations.


a Decline in prices for palm oil weighs on markets of soybean oil and beans, which quotations have fallen after the publication of the details was signed between the US and China trade deal.


Futures soybean oil in Chicago yesterday fell 2% to 734,36 $/t, while soybeans fell by only 0.5% to 340,4 $/t


the agreement identifies the exact volume of purchases by China of American goods, but experts expect increased trade in soybeans.


Goldman Sachs Analysts believe that soybean exports from the U.S. to China will increase to 40-70% of the set in 2017 in volume (to start a trade war), in particular in 2020 to 45 million tons, and in 2021 - up to 55 million tonnes, which represents 40% of the total declared imports of agricultural products from the United States.


the Second major position is likely to be the import of meat, for $ 2 billion in 2017 will increase in 2020 to $ 10 billion, and in 2021 to $ 11 billion, amounting to 25% of the total import volume.


However, these forecasts did not support the price of soybeans, which reacted to the decline in value, all the soldiers of the oil and increase its reserves.


According to the report, NOPA, United States in December increased compared with November, the volume of soybean in the 6% to the second-highest monthly record 4,757 million tonnes, But stocks of soybean oil at the end of December increased by 21% to 800 thousand tons, while the experts evaluated them 685 thousand tons.


the Decrease in quotations of soy and palm oil pressure on purchasing prices for sunflower oil, which has dropped by $10/t to 790-800 $/t FOB. Niblick time after the fall of the quotations of palm oil to 700-720 $/t recover the price ratio between palm, soy and sunflower oils, when the premium for soybean oil will be 50-70 $/t, and for sunflower – 50 $/t

Visitors’ comments (0):