Prices for vegetable oil increased slightly at the end of the week

Despite the fall in oil prices, which fell below 60 $per barrel, the price of vegetable oil at the end of the week showed a slight increase.

the most expensive palm oil, whose price Monday rose by 3.1% to 483,7 $/t with the support of the projections on the reduction of production at the end of the year.

After the price of soybeans, which, in anticipation of successful negotiations between the U.S. and China at the summit G20 rose for the week in Chicago 2.9% to 326,3 $/ton, soy oil price increased by 3% to 618,6 $/t

Support prices for sunflower oil purchase by Egypt of significant quantities of vegetable oils in the current week. The state food Agency GACS have acquired 40 thousand tons of soy oil from domestic operators and 10 thousand tons of sunflower oil of Ukrainian origin, presumably from the company at a price of ADM 673 $/ t CFR.

the Falling prices for Ukrainian sunflower oil to 625 $/t increased demand, making the demand price recovered to the level of 630 $/ton, and the price of the offer increased to 638 $/MT for December deliveries, although deliveries in January are lower than 630 $/t

Record harvest of soybean and sunflower exports stopped after the imposition of duties and changes in tax legislation that allows domestic processors to obtain significant profits.

Hopes for increased demand from China did not materialize. Livestock producers have reduced feed intake due to loss of livestock caused by African swine fever, in addition, Brazil increased exports of soybeans to China.