Prices for soybean oil are rising on the background of the problems in Argentina

2019-12-20 13:08:22
Machine translation
Prices for soybean oil are rising on the background of the problems in Argentina

the Argentine government Increased export duties on agricultural products and long-term problems with the supply of soy oil in the country after two weeks ago stopped the largest recycler Vicentin, led to the rise in soybean oil in the USA to 2-year high which supported the markets of other vegetable oils.


Futures on palm oil exchange in Malaysia in a week has slightly decreased to the level 692,7 $/t. due to the development of biodiesel industry growth in domestic consumption of palm oil reduces its reserves.


it is Expected that the final annual palm oil stocks in Malaysia, or will remain at the current level of 2.5 million tonnes, or reduced to 2.1 million t, and until the end of 2020 may be reduced to 1.5-2 million tonnes, according to Reuters.


March futures for soybean oil on the CME exchange yesterday rose 1.5 percent to the highest since November 2017 level – 753,7 $/t


the price of soybean oil in Argentina has increased to 780-790 $/MT FOB for deliveries in February.


the forecast Oil World Argentina in 2020 will Increase compared to current year the production of biodiesel from 2.17 to 2.25 million tonnes, although it will remain lower than the 2.4 million tons in 2018, 2.8 million tons in 2017 and 2.6 million t in 2016 in addition, exports of biodiesel from Argentina will grow from 1.01 to 1.1 million tonnes, which will also give the level of exports of previous years due to reduced demand from the EU.


Rise in price of soy oil has led to the fact that the price for black sea sunflower oil with delivery in India now at $20/t lower than for the Argentine soybean, although it is usually the prize for the sunflower oil is 30-50 $/t.


Growth markets of palm and soybean oil led to higher prices of sunflower oil in Ukraine to the highest since April, 2018 level 770-780 $/t FOB.


After prices canola quotes of rapeseed oil in the EU increased to 820-830 €/t for deliveries in February-March.


the price of vegetable oil has reached high levels, but may soon decline due to lower demand from China and India, caused by new year holidays.

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