The price of canola growing in the background of a sharp rise in price of palm oil

Quotes rape at the Paris MATIF grew yesterday after the rapid rise in price of vegetable oils, especially palm.

Futures on palm oil exchange in Malaysia yesterday rose another 2.5% to 5-month high of 2564 Ringgits/t or 602 $/t due to forecasts of reduced production and enhance the export of palm oil from Malaysia during the second half of July.

On the stock exchange in China, the futures of palm oil increased by 3.2%, soy – by 1.6%.

Futures for soybean oil in the United States more expensive and slower than yesterday rose only 1% to 651 $/t, with the result that the spread between palm and soybean oil fell to $50/t

the Market was supported by data from the National Association of oilseed processors (NOPA) about reduction of stocks of soybean oil in the United States at the end of June by 5.4% to a lower than expected level of 806 thousand tonnes, while the volume of soybean processing in June has exceeded all expectations and was a record for that month 4.55 million tons.

the price of rapeseed oil in the Netherlands grow due to rise in price in neighbouring markets, palm and soybean oil. This contributes to the increase in quotations of rape that yesterday on Euronext rose 3.5 €/t to 385,25 €/t, and the dollar price due to the strengthening of the Euro was 439,4 $/t

In Ukraine, the exporter gradually increase the purchase price and are now offered in port 13300-13600 UAH/t. Processors yet can offer no more than 12500-12800 UAH/t with delivery to the plant, resulting in the volume of rapeseed processing in the country this season may be reduced.

According to the Association "Ukroliyaprom", the production of rapeseed oil in Ukraine in 2019/20 Mr increased in comparison with the previous season by 27% to 160,5 thousand tons, the Main producers of rapeseed oil steel (with a share of the total volume):

the

oliar – 19%,

Vinnytsia SWC (ViOil) and 18.2%,

Delta Wilmar – 10,8%,

Gradola SEZ – 6.8 percent.

• Allseeds black sea – 32,4%,

Recall that due to the good harvest in Ukraine 2019/20 MG increased compared to the previous season, the export of rapeseed 18% to a record 2.89 million tonnes, which is 10% higher than the previous record of 2008/09 my – 2.64 million tons.