Oilseed prices started falling after the increase in India fees
the Introduction by the Indian government, the new rates of import duties on vegetable oil and soy led to a rapid fall of prices on oil markets.
December palm oil futures in Kuala Lumpur fell by 3.2% to 626 $/t, which is the lowest level of the last three months.
In Chicago December futures soybean oil fell 1.5% to 34,44 cents/lb 754 $/t.
In Europe, the December futures of sunflower oil was down $17/ton to 780 $/t on the basis of EXT W Europe.
so far, the price drop is not too rapid, but there is a possibility that the process of reduction of quotations will be accelerated.
D Euronext yesterday, fell by 3.5 €/t to 375,25 €/t for deliveries in February.
Canola in Winnipeg fell by 0.7% to 516 CAD/t or 403,2 $/t for deliveries in January.
the January soybean futures in Chicago fell by only 0.5 cents to 9.9 cents/bushel, as they have maintained good weekly soybean exports from the U.S. to the level of 2.13 million tons.
Sowing of soybean in Argentina, dry weather inhibits that supports the world price. However, this factor may disappear after the promised next week's rain.
Prices for Ukrainian sunflower oil are cooling the world. Now it is trading at 740-745 $/MT FOB.
Refiners have lowered the purchasing prices on sunflower by 50-100 UAH/t to the level 10800-11000 UAH/t with delivery to the plant and 10600-10700 UAH/t on elevators or CM economy.
the Price of soybeans has dropped slightly, but due to the strengthening of the national currency, the hryvnia, the purchase prices have decreased quite significantly.