Quotations for palm and soybean oil have increased, but have not yet supported sunflower oil prices

Oil quotations have stabilized, so vegetable oil markets are primarily reacting to demand data. Palm and soybean oil quotations are rising against the backdrop of increased imports of cheap oil to India. August futures for palm oil on the Bursa Malaysia exchange rose by 2.4% over the week to 4062 MYR/t or $961/t (-1% over two weeks) amid increased demand. In June, India sharply increased palm oil imports to an 11-month high due to low domestic stocks and a significant price discount compared to soybean and sunflower oil. Malaysia's palm oil exports in June grew only by 4.3-4.8%, although in the first half of the month they were ahead of the May figure by 17.7-26.3%, so stocks in Malaysia will likely rise again, which will put pressure on quotations after data refinement. Crude and refined palm oil exports from Indonesia in May increased by 53% compared to last May, from 1.23 to 1.88 million tons, as tropical oil began to be sold at a significant discount compared to competitors. ...