Falling oil and soybean oil prices have not yet affected palm and sunflower oil quotes globally

게시됨 2024년 5월 3일

Tridge 요약

Recent developments in the agricultural market have seen a decline in crude oil and soybean oil prices, impacting the Brent oil and soybean oil futures. Despite this, palm and sunflower oil prices have remained stable due to an increase in physical demand. Malaysia has experienced a surge in crude palm oil production and exports, while India has emerged as the world's largest buyer of vegetable oils. Conversely, Indonesia has seen a decrease in palm oil exports due to lower global demand. Sunflower oil prices have fluctuated based on the delivery location, with demand in Eastern Europe being strong. Ukraine has capitalized on this, exporting 628,000 tons of sunflower oil in April 2024, a 15% increase from the same period in 2023. Overall, the market is witnessing shifts in demand and supply dynamics across various oil crops.

면책 조항: 위의 요약은 정보 제공 목적으로 Tridge 자체 학습 AI 모델에 의해 생성되었습니다.

원본 콘텐츠

This week's 5.4% drop in crude oil prices and 5.3% drop in Chicago soybean oil prices have so far not affected palm and sunflower oil prices, which are supported by a pick-up in physical demand. June Brent oil futures on London's ICE Futures exchange fell 4.7% to $83.8/barrel for the week, and July soybean oil futures on the Chicago Stock Exchange fell 5.2% to $952/barrel. t. A report from the Malaysian Palm Oil Board was more upbeat than traders expected, with June palm oil futures on Bursa Malaysia falling just 0.8% for the week to 3,844 ringgit/t, or $809/t, while the market had expected their sharp decline following oil prices. In March, crude palm oil production in Malaysia increased by 10.57% compared to February to 1.39 million tons, and exports (including to India) by 28.61% to 1.32 million tons, as a result of which stocks decreased by 10.68% to the 10-month low of 1.71 million tons. The world's largest buyer of vegetable oils, India, in April increased palm oil imports ...

출처: Graintrade