Prices for vegetable oil continued to decline

2018-10-25 12:05:05
Machine translation
Prices for vegetable oil continued to decline

Tuesday On world markets, the value of assets dropped to an annual low, while futures for Brent lost almost 6% and was trading at 75,6 $/barrel. This has led to lower prices for vegetable oils, which immediately responded to the world's stock exchanges.

 

Futures on palm oil on the Malaysian stock exchange in Kuala Lumpur for three days decreased by 1.7% to 528 $/t

 

Additional factors of pressure on prices were forecasts regarding the growth of palm oil production in the fourth quarter. In September, palm oil production in Malaysia increased in comparison with August by 14.4% to 1.85 million tonnes, which was the highest figure this month, starting in 2015.

 

Futures soybean oil in Chicago Monday lost 2.2% and fell to 629,2 $/t, which led to lower prices for soybean meal by 2.2% to 337 $/t and soybeans by 1.6% to 316,7 $/t

 

the price of sunflower oil in Ukraine has decreased by a few dollars and are traded at the level of 650-660 $/t FOB.

 

Egyptian state Agency GASC yesterday at the next tender purchased 30 thousand tons of sunflower oil at the price of 702 $/t and 26 thousand tons of soybean oil at the price 673,40 $/t CFR. The purchase price of sunflower oil was 2.3% less than at the previous tender.

 

Powerful harvest of oilseeds this season continues to put pressure on purchase prices. Prices for U.S. soybeans remain at 316,7 $/t, and hopes to intensify imports from China virtually no. Weather in South America contributes to the planting of soybeans, which will lead to increase in acreage and increase in the number of proposals of soybeans on the world market in the second half of the season. Soybean exports from Brazil could reach 76 million tons, as the refining margin was almost non-existent, that the processors refuse to process soy in the country and taking advantage of attractive prices, sending its own gas for export to China. If China can reduce the import of soybeans to 86 million tonnes a year, despite the USDA forecast at 95 million tonnes, it is enough to import 75 million tonnes from Brazil and 10 million tons from Argentina in order to buy us soybeans this season.

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