Sunflower prices to remain under pressure falling markets vegetable oils

2020-10-05 12:12:11
Machine translation
Sunflower prices to remain under pressure falling markets vegetable oils

In Ukraine, purchasing prices for sunflower last week, recovering slightly after the previous sharp fall, but at the end of the week amid the collapse in oil markets, palm and soybean oil has stopped growing.


during the week the price of sunflower increased by 200-500 UAH/t to 12400-13500 UAH/t (440-477 $/t delivered to the plant, but the producers held back sales in expectation of price level 14000 UAH/t. the bid Prices of sunflower oil increased to 900-910 $/t FOB due to the limited proposals from the processors, but the bid price remained at us $850/t


On world markets intensified pessimism regarding the growth on the growth in the number of infected Covid-19, and the contamination of the President of trump further increased the pressure on the oil markets and vegetable oils.


December futures on palm oil exchange in Malaysia on Friday, fell 2.9% to 2708 Ringgits/t or 650,96 $/t, for the second consecutive week showing a decrease. Pressure on prices lack of demand from China, where, until October 8, the weekend continues, and the uncertainty of world demand and oil prices.


Futures soybean oil on the stock exchange in the United States on Friday fell by another 1.8% to 694,5 $/t


the Drop in prices of soybean and palm oil reduces the demand for expensive Ukrainian sunflower oil from its main buyer India, which in September has sharply reduced import volumes.


Due to reduced purchases by importers of the bid prices of Ukrainian sunflower oil at the end of the week fell to 870-895 $/t FOB.


India remains the world leader in terms of the spread Covid-19, therefore, is not expected to increase the demand or willingness of Indian buyers to pay a high premium for sunflower oil compared to cheaper palm or soybean oil. If the premium between the prices of palm, soybean and sunflower oil will return to traditional levels of $100/ton, so sunflower oil will cost us $850/MT FOB.


In Russia, with 48% of the area or 4.1 million hectares harvested 6.8 mln tonnes of sunflower with a yield of 1.68 t/ha, so the total fee could reach 14 million tons.


In Ukraine, as of October 1, with 66% of the area or of 4.24 million hectares harvested of 8.09 million tonnes of sunflower with a yield of 1.9 t/ha. as you progress in the North the average yield grows and if it reaches projected 2.2 t/ha, the yield of sunflower may be 14-14. 5 million tonnes.

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