Sunflower prices rise after the prices of sunflower oil

2019-04-08 13:34:58
Machine translation
Sunflower prices rise after the prices of sunflower oil

the Main factors of rising prices for palm oil last week, rising world prices for soybean and sunflower oil was increased tension in Libya. It has stepped up procurement and has spurred the growth of prices for sunflower seeds in Ukraine, despite the strengthening of the hryvnia.

Prices for palm oil in Kuala Lumpur is actively growing last week and reached on Friday 544,8$/ t, which is the highest figure for the last 6 weeks. The reason for the growth were an increase in the rate of export of palm oil, as well as a forecast reduction in balances.

 

an Additional factor of pressure on prices was the increase in oil prices, which rose for the week by 2.5% to $of 70.65 a barrel in connection with military confrontation in Libya that may affect the supply of oil to the world market.

 

the rising prices of palm oil have provoked the intensification of procurement of soybean oil by Indian importers who switched to the purchase of Argentine soybean oil. Prices for soybean oil delivery CIF India rose for the week at 20-25$/t up to 680-685$ /t CIF. The spread between the prices of refined palm oil and soy oil in the domestic market of India has decreased from 140 to 90$/t, which will allow to increase imports of higher quality soybean and sunflower oils. India imported about 15m tonnes of vegetable oil, but is more than half palm-one-third soy, and the rest is sunflower and rapeseed oil.

 

the Market of Ukrainian sunflower oil on Thursday and Friday showed a small increase by adding about 5-10$/ t by the end of the week rose to the level 660-665$/t FOB with delivery in may and June, but traders suggest that growth will continue for another 5-10$/t in the near future and almost stopped the sale.

 

the Purchase price of sunflower in Ukraine last week rose despite the continued strengthening of the hryvnia exchange rate to 26.6 per dollar until the end of the week. Refiners have stepped up buying and offered for large quantities of sunflower prices higher than declared on the market. At levels of 10600-11000 UAH/t with delivery to the factory, some manufacturers for the major parties offered prices 11200-11300грн/t with fast delivery. Prices ex-agriculture increased to 10200-10300грн/t , but this has not led to increased sales that the producers are busy planting and they are still resourced.

 

Today, the Egyptian GASC will hold another tender for purchase of vegetable oil, which will become an additional marker(indicator) of prices for sunflower oil. Output balances from the USDA on Tuesday, and the situation on the world oil market - will be the main factors influencing prices this week.

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