Lower prices for palm oil presses on the markets of oil

Experts believe that the decline in prices for palm oil in Malaysia will continue this week, despite yesterday's speculative adjustments.

Monday futures for palm oil fell by 2.6% to 2687 Ringgits/t or 644,36 $/t, but yesterday, against the backdrop of increasing demand and the devaluation of the ringgit rebounded by 0.4%.

the January futures for soybean oil in Chicago yesterday remained at the level of 372,85 $/t. They were supported by a slight increase in prices in China and low market activity on the eve of the US thanksgiving.

After palm oil quotations of sunflower oil in Argentina increased to 700-720 $/t FOB. Farmers are holding back sales in expectation of higher prices, because the new government that will work in 2 weeks, promised to raise export duties on agricultural produce.

the bid Prices for sunflower oil are reduced, because buyers expect falling of the vegetable oil markets amid podesheveli palm oil. Bid prices for Ukrainian sunflower oil remained at the level 725-730 $/t FOB, while the bid price fell to 715-720 $/t FOB.

the Decrease in offer prices of soybean oil in India until 725-730 $/t CFR pressure on the price of sunflower oil, which is offered at 770-775 $/t CFR with delivery in January.

a Decline in prices for sunflower oil on the background of long-term strengthening of the hryvnia stopped the growth of purchasing prices for sunflower on the level 9150-9800 UAH/t with delivery to the plant and 8600-8900 UAH/t on the French economy. Refiners have stepped up purchases to replenish stocks of raw materials in anticipation of the Christmas holidays, and also due to containment of sales manufacturers, who expect further price growth.

the bid Price for January delivery of rapeseed oil in the EU increased to 800 €/t FOB DM, while asking prices rose by 5 €/t to 810 €/t FOB DM and lower forecast production in 2020 with the reduction in acreage.

the price of rapeseed on Euronext after the fall of recovered by 2 €/t to 387,75 €/ton, while the price of the dollar fell to a 426,7 $/t due to the depreciation of the Euro.

Low volume of proposals of rapeseed in the EU, especially in the second half of the season, has not led to growth of quotations, in addition to which press low prices on canadian canola.