The production growth of palm oil presses for vegetable oil markets
According to the experts LRAS, Malaysia in November has reduced palm oil exports to 1.35 million tons, which is the lowest indicator for last 7 months, and 20 kt is inferior to the exports of November 2016.
India due to increased import duties have reduced the purchase of palm oil from 134 to 100 thousand tons, EU countries – from 162 to 155 thousand tons, African countries – from 314 to 235 thousand tons Despite the seasonal reduction of imports, a slight increase in purchases demonstrated some Asian countries, particularly Philippines, Vietnam and Saudi Arabia.
palm oil Production in Malaysia in November increased by 23% to 1.9 million tons compared to 1.57 million tonnes in November 2016.
the Common stocks of crude and refined palm oil in the country by the end of November compared to the same period last year increased by 54% to 2.56 million tonnes, the highest level since December 2015.
the Price of palm oil in Kuala Lumpur during the week fell by 5.3% to 2458 ringgit or 601,71 $/t
This was the main factor of pressure on the quotations of vegetable oils in the near future in conjunction with the news about the weather and the soybean crops in South America.
sunflower oil Price in Argentina is around 764 $/t, while in Ukraine it dropped to 740-755 $/t FOB.
the January soy oil futures in Chicago fell to 730 $/t.