Falling palm oil prices in Malaysia increase pressure on sunflower oil and sunflower prices in Ukraine

The decline in Malaysian palm oil prices is accelerating, and yesterday February futures on the Bursa exchange fell by 1.2% to 4,758 ringgit/t or $1,070/t (-7.6% for the week) against the backdrop of reduced demand, especially from India, which has intensified purchases of cheaper soybean and sunflower oil. According to estimates by surveyors ITS and AMSPEC, Malaysia reduced its palm oil exports in the period 1-15 December compared to the same period in November by 6.7-9.8% to 660-671 thousand tons. At the same time, India increased its vegetable oil imports in November by 12% compared to October from 1.459 million tons to a record 1.628 million tons, in particular sunflower oil imports by 43% to 341.9 thousand tons, soybean oil by 20% to a 3-month high of 410 thousand tons, while palm oil imports by only 5% to 850 thousand tons. Sunflower oil imports to India increased due to active supplies of oil from the Russian Federation, the prices for which sellers were willing to lower, ...