The threat of declining global trade reduces the price of oil and vegetable oil

due to the spread of new coronavirus in China yesterday quotations of oil of mark Brent on London exchange ICE for the first time since the autumn of 2019 fell below $60/barrel to 59,39 $per barrel.

After the death of the Iranian General Qasem Soleimani, the price of oil Brent at the beginning of the year rose to $70/barrel for the first time since may 2019, when the Persian Gulf was another aggravation.

According to the experts Goldman Sachs, Brent crude can fall in price of 2.9 $/barrel because of the epidemic coronavirus 2019-nCoV, the spread of which can go according to the script of SARS, which in 2003 caused panic in Asia and primarily in China, which led to a sharp reduction in the number of tourists, the cancellation of flights and demand for jet fuel.

Futures on palm oil in Malaysia showed the largest daily drop in two weeks, and fell by 2.2% to 704,07 $/t amid lower demand from China and India, the fall in energy prices and sscience ringgit. Prices pushing bad palm oil exports from Malaysia and rumors about the intentions of India to save the import duty on palm oil.

Futures soybean oil in Chicago on Friday fell 1.3% to 696,44 $/t, which is at least 6 weeks.

Reduction in price of palm and soybean oil continues to put pressure on the prices of Ukrainian sunflower oil, which decreased by 5 $/t to 780 $/MT FOB, while the buyers offer no more than 760 $/MT FOB.