Prices for vegetable oils in the global market are increasing against the background of increased export demand

The 3.8% increase in oil prices for the week caused by the instability in the Middle East led to an increase in the prices of vegetable oils. This is reported by analysts of the GrainTrade electronic grain exchange. November palm oil futures on Bursa rose 3.5% for the week to 3,947 ringgit/t, or $907/t (+2.5% on the month), amid a pick-up in exports in September after a contraction in August. According to ITS data, for September 1-20, Malaysia increased palm oil exports by 10% to 953.98 thousand tons compared to the same period in August. According to admis.com estimates, in 2024/25, compared to the current season, India will increase its demand for vegetable oils from 16.3 to 16.8 million tons, therefore palm oil imports will increase from 9.44 to 9.8 million tons, soybean - from 3.2 to 4 million tons, and supplies of sunflower oil will decrease from 3.55 to 2.85 million tons. In August, the country reduced the import of edible oils by 17% compared to July, to 1.53 million tons. ...