Sunflower prices after falling vegetable oil markets

After previous strong growth, the global vegetable oil markets on Wednesday resumed its fall.

the report Data of the Ministry of energy of the USA about increase last week oil reserves in the country by 4.74 million barrels to the highest since mid-2017 level lowered the price of Brent crude oil 3.1% to 70.3 $/bbl.

Followed the quotations of palm oil in Kuala Lumpur yesterday fell by 1.95% to 2057 ringgit or 491,58 $/ton, the biggest drop in the past 2 weeks. On prices pushing the saturation of the market and the likelihood of higher-than-expected production level in may.

however, shipments of palm oil from Malaysia during the period 1-20 may increased in comparison with the corresponding period of April to 5.6-13% - said Societe Generale de Surveillance, Intertek Testing Services and Agri AmSpec Malaysia.

Soybean oil in Chicago yesterday fell 1.8% to 597 USD/t following the futures on soybeans, which are falling despite the government's intention to allocate to farmers affected by export restrictions in China, financial compensation in the amount of $2/bushel soybeans.

Prices for Ukrainian sunflower oil stood at 690 $/t FOB. Then reduce the price of demand remains rather sluggish.

the Processors are actively purchasing sunflower and raise prices for large parties with a high level of oil content. Purchase prices remain at the level of 10650-11300 UAH/t with delivery to the plant and 10500-10700 UAH/t on the French economy. The rise of the dollar in the short term may increase purchase prices for sunflower, because of political instability in the country and the failure of the IMF in the allocation of the next tranche of aid will put pressure on the hryvnia in the period prior to the July parliamentary elections.