The rise in price of vegetable oils has led to higher prices for canola

the Price of oil is gradually on the rise amid a recovery in demand and a reduction in the number of drilling rigs in the United States, even despite the proliferation of Covid-19 world and a sharp increase in the number of infected per day in the United States, Brazil and India.

the Markets calmly react to such data as the number of hospitalizations of patients with severe forms of the disease increases slower than the number of infected, so there is no need for strict quarantine restrictions.

strong demand for vegetable oil supported prices.

Futures on palm oil in Malaysia, after falling on Tuesday at the end of the week recovered to 2358 Ringgits/t or 550,29 $/ton amid higher oil prices and soybean oil.

Futures for soybean oil in the U.S. last week rose by 4.6% to 646,1 $/t due to more active than last year, sales of U.S. soybeans of the new crop in China.

Quotes on rapeseed on Euronext for the week increased by only 1,25 €/t to 376,75 €/t or 425,07 $/t, while on Thursday reached 378 €/t for the uncertainty of productivity in the EU and Ukraine. However the rise in prices limited the decline in rapeseed oil in the Netherlands for 5 €/t to 750-760 €/t due to reduced demand for biodiesel.

the market of rapeseed oil under pressure claims of Malaysia and India to the WTO against the European Union. Malaysia, which is the world's second largest palm oil producer, on Wednesday said he will file a lawsuit against the EU to lift the ban on the use of palm oil in the production of biodiesel in the EU, because the EU policy in accordance with the Regulations, the delegation restricts the practice of free trade. Also, Malaysia will act as the third party in a WTO lawsuit in Indonesia against the EU.

In Ukraine, the price of canola at the port remained at 412-415 $/t, however, as a result of a sharp rise in the dollar last week to 27.1-27.2 inches UAH/ USD UAH prices have risen to 13100-13300 UAH/t due To low prices for wheat and barley producers are willing to sell rapeseed for a high price, however, the volume of supply is small, because the active collection will begin in 10-14 days.