Ukraine: Rising palm oil prices are keeping sunflower oil prices from falling

This was reported by the press service of the Electronic Grain Exchange of Ukraine Graintrade. "October palm oil futures on the Malaysian stock exchange rose 2% to $ 1,078 / t, adding 7.2% for the week, on data on India's intensification of imports in August and rumors of a possible reduction in tariffs on imports of edible oils in India ", - it is told in the message. It should be noted that in August, India increased palm oil imports by 84% to 850,000 tons after the government reduced the import duty on crude palm oil by the end of September and lifted restrictions on imports of refined palm oil and olein by the end of the year to reduce domestic prices for food oils. At the same time, the import of more expensive soybean oil decreased from 380 thousand tons to 175 thousand tons, and of sunflower oil - to 65 thousand tons. "December soybean oil futures on the Chicago Board of Trade fell 0.5% to $ 1.26 thousand / ton following yesterday's soybean prices, losing almost 5% in a ...