Prices for palm oil and soy oil since the beginning of the week fell by 3%

Data April balance USDA vegetable oils in General, in line with expectations of analysts, however, the prices of palm and soybean oil with the beginning of the week fell sharply on forecasts of increasing soybean production and reserves in Malaysia.

Experts USDA has lowered the forecast of world production of vegetable oils for 320 thousand tons to 209,06 million tonnes (207,33 million tonnes in 2019/20 MG), in particular sunflower oil – 0.14 million tonnes to 19.3 million tons to 19.3 million tonnes (21,41 million tonnes in 2019/20 MG) and palm oil by 0.6 million tonnes to 74,49 million tonnes (of 73.2 million tonnes in 2019/20 MG) as a result of falling production in Malaysia.

Forecasts of consumption and import of palm oil has also been reduced because of too high prices, resulting in a rating of world ending stocks of all vegetable oils increased by 0.39 million tons to 22.67 million tonnes (24,98 million tonnes in 2019/20 MG), especially palm – 0.32 million tonnes to 11.76 million tonnes (13.2 million tons in 2019/20 MG).

For the increase of palm oil stocks in Malaysia prices on vegetable oil complex Monday fell to its lowest in April level. On the physical markets, buyers are not active in expectation of lower prices.

June futures of palm oil on the stock exchange in Malaysia yesterday, fell 3.2% to the April low 3650 ringgit/t or 883,5 $/t on data on high volume stocks. Estimated LRAS, due to the increased production and lower exports for the month palm oil stocks rose by 10.7% at the end of March was 1.45 million t

May futures for soybean oil on the stock exchange in Chicago fell by 2.5% to 1142 $/t after the decision of the authorities of Brazil temporarily reduce the mandate for biodiesel from 13 to 10, which reduces the consumption of soybean oil.

On the stock exchange in Dalian futures palm oil fell by 2.8% to 1136 $/ton, and soy – 1.2% to 1308 $/t

the Prices on the black sea sunflower oil due to low export demand remain at 1490-1525 $/t FOB. The volume of proposals is also negligible, since lower prices for sunflower producers almost stopped selling it.

within the first 3 months of 2021, the export of sunflower oil from Ukraine decreased compared to the same period in 2020. 26% from 1.82 to 1.35 million tonnes, but in monetary terms increased by 13% from 1.32 to 1.49 billion $ due to the price increase.

the Main buyers of Ukrainian sunflower oil in this period were:

• India – 442,31 $ million or 29.7% of the total cost,
• China – 264,49 $ million, or 17.7%,
• the Netherlands – 130,55 $ million, or 8.8%,
• Spain – 120,41 $ million or 8.1%,
• Italy – 77,69 $ million or 5.2%.