The price of palm oil fell sharply
After skyrocketing prices in the last month, quotes on Monday Malaysian palm oil lost 2.51% of the price or 18 $/ton, and fell during the day to the level of $700/t. This decline was a reaction to the publication of a new report on palm oil exports from Malaysia during the period 1-15 November. Surveys according to Intertek, exports fell by 17% compared to the same period in October.
Operators of the market worried about falling demand from China and India.
the Fall in oil prices to 46 $/barrel and lower quotations of palm oil will continue to put pressure on the price of soybean and sunflower oil, which is falling for the third straight week.
this week there has been a fall in prices on the Ukrainian export market of crude sunoil, which corresponds to the trends of world markets of vegetable oils and can lead to lower purchasing prices for sunflower oil. So, the price of unrefined oil is 700-710 $/ton or 21000-22000 UAH/t with delivery to the port.
Recall that this year Ukrainian farmers have collected a record number of sunflower – 13 million.