Цены на пальмовое масло упали на фоне изменения правил экспорта из Индонезии и карантина в Шанхае

Published 2022년 6월 10일

Tridge summary

The Indonesian government has replaced its ban on palm oil exports with a scheme to accelerate shipments, aiming to export at least 1 million tons of crude palm oil. To boost exports and manage high inventories, Indonesia has reduced its top export duty on crude palm oil. However, palm oil quotes have still fallen by 3.5-4%. Meanwhile, Egyptian GASC has purchased only local soybean oil in recent tenders due to high imported oil prices, while demand for Ukrainian sunflower oil from European buyers remains high, supported by growing demand from biodiesel plants.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Yesterday, the Indonesian government replaced the April 28 ban on palm oil exports with a shipment acceleration scheme that should ensure the export of at least 1 million tons of crude palm oil. Traders expected this, but quotes still fell by 3.5-4%. To boost exports amid a surge in inventories, Indonesia, the world's largest exporter, is cutting its top export duty and duty on crude palm oil from $575/t to $488/t. August futures for palm oil on the Malaysian exchange Bursa yesterday fell by 4% or 259 ringgit / t to 6208 ringgit / t or $1413 / t, and on the exchange in Chicago - by 3.4% to $1355 / t. The market is further pressured by a 5.5% decline in palm oil prices on the Dalian Chinese stock exchange and a 2.6% decrease in soybean oil prices, caused by the decision of the Chinese authorities to re-impose quarantine in Shanghai due to Covid-19. At the same time, July futures for soybean oil on the Chicago exchange fell only 0.4% yesterday to $1819/t, as they were supported by ...

Source: Oilworld