Sunflower prices to remain under pressure in the prices of vegetable oil

Ad the who of outbreaks Covid-19 world pandemic has heightened the panic on the world financial and commodity markets, causing the Dow Jones fell 5.3%, the S&P500 – 4.4%, Nasdaq – by 4.7%, while prices for Brent crude – by 4.3% to 34.3 $/barrel.

the Purchase price of sunflower in Ukraine has fallen by 800-1000 UAH/t to 9400-9800 UAH/t with delivery to the plant after the price for sunflower oil. Refiners have large stocks of raw materials, so do not hurry to buy seeds at high prices amid uncertainty over export prices for sunflower oil.

the bid Price for April supplies of Ukrainian sunflower oil fell to 650-660 $/MT FOB, while prices remain at a high level 670-680 $/MT FOB, and for supply to India – at 720 $/t CIF, which is 50 $/t higher than the bid prices of Argentine soybean oil.

Futures soybean oil in Chicago yesterday. WPAland 597,8 2.75 to $/ton, and soybean – by 1.5% to 316,7 $/ton, despite the rumors about China's purchase of several lots of soy on the West coast.

Futures on palm oil exchange in Malaysia to grow for the second consecutive session amid lower-than-expected palm oil stocks and hopes for the resumption of exports to India, ignoring the fall in oil prices and palm oil quotations on the stock exchange in Dalian. According to released on Monday, according to the LRAS, palm oil stocks in the country decreased compared to the previous month by 4.2% to 1.68 million tons.

May futures for palm oil rose yesterday by 0.7% to 2359 Ringgits/t or 557 $/t, but today can be deployed down the oil prices, so the trader will continue to lower purchase prices for vegetable oil.