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A seasonal increase in the supply of vegetable oils in the global market is increasing the pressure on quotations, especially against the backdrop of reduced demand from India and China.   India cut edible oil imports to a 16-month low in October as refiners cut purchases due to increased inventories.   Lower risks of confrontation in the Middle East led to a 5% drop in oil prices, which increased pressure on vegetable oil prices.   January palm oil futures on...

In October, the average value of the FAO Food Price Index decreased compared to September by 0.7 p or 0.5% to 120.6 p, which is 10.9% or 14.8 p lower than in October 2022. Decrease in sugar prices , grain, vegetable oils and meat was partially offset by higher prices for dairy products.   The average value of the FAO Cereal Price Index decreased by 1.3 p or 1% from September to 125 p, which is 17.9% or 27.3 p lower than in October 2023. World wheat prices fell by 1.9 % due to...

The Ukrainian Grain Association (UZA) increased the forecast for the harvest of grain and oil crops in Ukraine in 2023 by 1.1 million tons to 81.6 million tons, while it estimated the 2022 harvest at 73.8 million tons. The estimate was revised due to favorable weather conditions conditions and better than expected corn and sunflower yields.     According to UZA's forecast, grain exports in 2023/24 FY may reach 50 million tons (58 million tons in 2022/23 FY), but only...

The weighted average purchase price of grains and oilseeds in Ukraine on CPT terminals, EXW elevators, CPT processors, FCA, CPT dollar, FOB, DAF, CIF Purchase prices in Ukraine  CPT terminal, UAH EXW elevators, UAH CPT processor, UAH FCA, UAH CPT terminal, $ DAF, $ CIF, $ Wheat mill offals 900 ↓ 200 Mustard seeds 629 Peas 195 210 Buckwheat 10000 7500 Green peas 5000 Corn 5500 3967 4200 ...

Despite the stable global soybean prices and the forecast of an increase in the harvest in Brazil, the export demand for soybeans and its prices are growing in Ukraine.   The Ukrainian government's struggle with cash purchases has halted many suppliers, especially those working in Danube ports, disrupting delivery timelines and increasing demand for soybeans to fulfill export contracts. Against the background of growing demand, farmers stopped sales, which led to another price...

On November 2, the Egyptian state agency GASC held a tender for the purchase of 30,000 tons of soybean oil and 10,000 tons of sunflower oil for delivery in January-February, where it purchased more than 60,000 tons of vegetable oils, as in the previous tender in September.   The tender received 8 bids for the supply of sunflower oil at a price of $963-1000/t C&F and 15 for the supply of soybean oil at a price of $1065-1075/t C&F, while the tender on September 21 received 8...

India cut edible oil imports to a 16-month low in October as rising inventories forced refiners to reduce purchases of palm, soybean and sunflower oils.   A reduction in purchases by the world's main importer of vegetable oils will lead to an increase in palm oil stocks in the main producing countries - Indonesia and Malaysia, which will increase the pressure on quotations. This, in turn, will reduce the prices of soybean oil in the USA and sunflower oil in the Black Sea...

Against the background of increased movement of ships to the Black Sea ports and a decrease in freight rates by $5-10/t, the purchase prices for corn this week increased by $5-10/t to $130-135/t or UAH 5,200-5,280/t with delivery to Black Sea ports and $140-145/t with delivery to Danube ports.   Despite the high yield and low humidity of corn, farmers hold back sales in anticipation of higher prices.   In Ukraine, on October 26, 13.32 million tons of corn were harvested...