The seasonal increase in production puts pressure on prices for vegetable oils

2017-11-15 12:35:53
Machine translation
The seasonal increase in production puts pressure on prices for vegetable oils

the Coming of palm oil futures on the stock exchange in Kuala Lumpur during the week declined by 3.5 $/t to 653,75 $/t pressure On prices, the seasonal increase of oil production. By the end of October, palm oil production increased by 9.4% to 1.5 million tonnes and was the largest in the last 2 years increased that led to increase of ending stocks. The yield of oil palms more than last year.

 

High export prices have allowed Ukraine to increase in September exports of sunflower oil compared to the same period of 2016 by 14% to 310 thousand tons, and in October by 22% to 530 thousand tons.

 

In November sunflower oil began to fall after palm and soybean oil. Demand price for crude sunflower oil is 750-755 $/t FOB ports of Ukraine.

 

In Chicago December futures soybean oil dropped to 756 $/t

 

domestic Demand for sunflower oil may fall substantially after the introduction of India's import duty on vegetable oil.

 

Indian Association of processors Solvet Extractors Association (SEA) reports that in the month of November 2016 – October 2017 imports of vegetable oils in India increased by 4.75% to 15.4 million tonnes against 14.7 million tonnes in the previous season. The import of sunflower oil increased from 1.5 to 2.2 million tonnes, with palm – by 10.06% from 8.4 to 9.3 million t. Simultaneously, the import of soybean oil decreased from 4.2 to 3.3 million tons and mustard from 3.7 to 2.9 million .