Price trends of the vegetable oils market change
Vegetable oil, which rose in price due to active import demand from China and India, are gradually beginning to fall with the approach of harvesting oilseeds and confirm production forecasts. In India, at a conference on vegetable oils, the experts indicate the change in the price trend of vegetable oils in the coming months.
The supply of vegetable oils increases sharply due to the seasonal increase in palm oil production in Malaysia and Indonesia in October and November and harvesting of the U.S. soybean and sunflower in Europe.
Palm oil fell by 5-10 $/MT to 705-710 $/t, FOB Malaysian ports.
Soybean oil in Chicago dropped from 775 $/MT to 755 $/MT, but then rebounded to the level 765 $/t
In Europe, FOB Rotterdam soybean oil fell to 750 €/t, and sunflower – up to 810 $/t
In Ukraine, the price of unrefined sunflower oil fall behind the world trends and within a week lost about $5/t as of September 19, rates of demand are:
- 774 $/t FOB,