The decline in the prices of palm and soybean oil reverses down markets of oil

2020-09-24 12:36:01
Machine translation
The decline in the prices of palm and soybean oil reverses down markets of oil

the Decline of oil prices by 5-6% and the approximation of the second wave of the pandemic Covid-19 resulted in falling prices for palm and soybean oil, which accelerates the projected reversal of the vegetable oil markets down.

 

Sharp rise in prices of vegetable oils in September to record levels seen in December and January before the start of the pandemic, amid stable global balances and the seasonal increase offers little in the basis of the speculative component.

 

Increase sales at high prices fallen sharply, the demand price and yesterday's futures down on vegetable oil on the stock exchanges of China has accelerated. In Dalian futures for palm oil fell by 4.2%, soy – by 3.7%, which led to the collapse of the world stock exchanges.

 

Futures on palm oil exchange in Malaysia since the beginning of the week fell by 7.7% to 2861 Ringgits/t or 689 $/t on forecasts of increased production in September and lower demand.

 

Futures for soybean oil in the U.S. yesterday fell another 2% to 711 $/ton, lost Monday a two-week pre-growth or 9.7% of the price.

 

Stock fall immediately affected the physical markets, where buyers suspended purchases in anticipation of further price declines.

 

Prices for Ukrainian sunflower oil this week fell to 80-100 $/t after other vegetable oils. Most cheaper supply of Nov-Dec and 1 kV 2021г, the prices of which fell from 1000 $/MT FOB below the psychological level of $900/MT FOB.

 

the Purchase price of sunflower in two days has fallen to 14600-14800 UAH/t to 13900-14000 UAH/t (495 $/t delivered to the plant. As a result, producers who expect the price level 15000-15500 UAH/t again will decrease sales, which would limit the fall of prices for sunflower oil in the near future.

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