Prices for rapeseed and soya after falling prices for vegetable oils
the declining Trend in the cost of oil to the level 56-56,6 $/barrel and a seasonal increase in the production of vegetable oils has led to a predictable decrease in the prices of canola and soybeans.
Growth of palm oil production in Malaysia and Indonesia in September resulted in the largest growth stocks in the last 19 months. The price of palm oil fell to 646-650 $/t FOB Malaysia for delivery in October - November. The price reduction allowed in the first week of October to increase exports to 448,35 thousand tons against 379,65 THD. MT in the same period last year.
the Price of soybean oil in the U.S. fell from 760 to 735 $/t compared to the end of September.
the Price of sunflower oil per week decreased by 5-10 $/MT to 790-795 $/MT FOB Rotterdam.
Under the pressure of the new crop and lower the cost of oil prices on rapeseed on Euronext since the beginning of October continue to fall and yesterday traded at 365 €/t or 433 $/t.
the cost of the November canola futures in Chicago remains at 494 CAD/t or 397 $/t .
the Demand for Ukrainian rapeseed gradually subsides, as most traders had completed their export programs and switch to corn and soy. Most dropped the price of canola with GMO, which fell to 395-400 $/t delivery port, while the non-GMO rapeseed prices fell to 418 to 420 $/t 425-426 relative to$/t at the end of September.
As of October 11 from Ukraine already exported 1.46 million tons of rape against 0.64 million tonnes last year, while the export forecast for the current season 1.7 to 1.8 million tons.