Palm oil market supports prices for sunflower oil and seeds

After a two-day fall February futures for palm oil exchange in Malaysia yesterday rose 1% to 630,9 $/t with the support of the market of soy oil and export data that supported the quotes of sunflower oil.

According to experts of the SGS, in the first half of November increased Malaysia palm oil exports compared to the same period in October 2.8% with 659,4 to 677,6 thousand tons.

Prices were supported by news on the extension of Indian companies purchase of Malaysian palm oil after getting a discount on her $ 5 $/t

last week futures on palm oil dropped on the data to reduce its imports to India in October to 778,568 thousand tons.

In Chicago February futures for soybean oil rose yesterday for another 15 to 691,3 $/t on data on the growth of soybean in the U.S. in October to a record high of 4.77 million tonnes, or 175,397 million bushels, that 620 thousand tons higher than in September. Even the fall in soybean prices did not stop the rise in price of soybean oil.

the vegetable oil Markets are rising despite the fall in the price of Brent crude oil in recent days by 4% to 60.7 $/bbl amid oversupply and a trade dispute between the US and China.

Growth stock prices forced consumers of Ukrainian sunflower oil to intensify purchases for delivery in the 1st quarter, making the prices FOB for the week rose by 5-10 $/t to 715-720 $/t. the demand for domestic sunflower oil show Indian buyers who are willing to pay for January delivery 762-770 $/t CIF.

Rise in price of sunflower oil led to the increase of purchase prices of sunflower seeds despite the strengthening of the hryvnia. Processors offer 8500-8800 UAH/t on the Franco-economy and 8800-9800 UAH/t with delivery to the plant depending on the region and existing stocks of raw materials. Manufacturers in anticipation of rising prices realize a sunflower in small batches only to replenish working capital.