Prices for sunflower oil are rising with the support of the palm oil
prices of palm oil continue to grow. During the week it has risen on 5,9%, and yesterday's trading in Bursa Malaysia rose 1.7% to 4-month high of 549 $/MT amid forecast a seasonal drop in production and stocks due to rising oil prices.
the conference for food oils in Pakistan, experts said that in the coming months, palm oil price will rise by 50-100 $/ton to a minimum of 600 $/ton amid increased demand from the food and energy industries, reducing production and decreasing world reserves. This news supported markets.
During 1-20 January delivery palm oil rose compared with the previous month's 11.8-12.9 per cent.
Sharp rise in prices of palm oil supported prices of other vegetable oils.
March futures for soybean oil in Chicago Monday rose 1.7% to 642,6 $/t
the prices of crude sunflower oil in the black sea are actively growing, during January rose 4% to 650-660 $/MT FOB Ukrainian ports for deliveries in February, and for March shipments, they by 3-5 $/t higher. Russian sunflower oil also has risen to 640-650 $/t FOB.
price Increase helps the growth of demand from buyers, which in previous months were not very active.
Processors continue to raise purchasing prices for sunflower seed to attract additional volumes. During the week prices delivered to factory increased by 200-250 UAH/t to 10500-11000 UAH/t