The drop in the price of vegetable oil lowers the price of sunflower

2020-01-30 12:09:43
Machine translation
The drop in the price of vegetable oil lowers the price of sunflower

a Sharp drop in prices for vegetable oils resulted in lower purchasing prices for sunflower in Ukraine over the past weeks-300-400 UAH/t, while the growth of the dollar on the interbank market at 2% somewhat compensated for the decrease in quotations.

 

With the beginning of the week, refiners have lowered the price of sunflower 200-300 UAH/t to 10400-10600 UAH/t with delivery to the plant and 9700-9900 UAH/t on the French economy after export prices for sunflower oil fell by 15-20 $/t, lost since the beginning of the year of $60/t on the background of the sharp depreciation of palm oil and lack of demand from buyers who stopped purchasing in anticipation of further price declines.

 

However, the rates of palm oil exchange in Malaysia after the panic of the collapse on Tuesday of 11% yesterday, showed the highest daily growth and went up by 5.75% to 2723 Ringgits/t or 667,57 $/ton against decrease in panic from spreading coronavirus and statements the world's largest producer and exporter of palm oil of Indonesia, for the first time since may of 2017 Cran will be introduced import duties at the rate of 18 $/ton, since the reference prices for the month rose by 15.1%.

 

amid the recovery of the quotations of palm oil prices demand for Ukrainian sunflower oil grew to $740-750/MT FOB, while prices remained at the level of 760-765 $/t FOB for shipments in February-March and 760-770 $/t FOB for shipments in the 2nd quarter.

 

March futures for soybean oil in Chicago on Tuesday, showed a slight increase, but yesterday fell back by 2.3% to 687 $/t for the uncertainty of the influence coronavirus on the global economy.

 

amid low demand from Asian buyers, the price of soybean oil in Argentina has also dropped to 730 $/MT FOB Up River. The possibility of price growth in Argentine soybean oil limit offer Ukrainian sunflower oil with delivery on CIF India level 810-815 $/t

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