Rising soybean oil quotes halted falling palm and sunflower oil prices

$1,125/t during the week, but rose only +1% overall over the month, as export prices for oil from the US face strong competition on the world market, limiting their further growth. The rise in soybean oil quotes supported palm oil quotes, which have lost 10% in a month. But yesterday, December palm oil futures on the Bursa Malaysia exchange rose 0.7% to 4,138 ringgit/t or $979/t, despite data showing that Malaysian palm oil inventories rose to a 6.5-year high and exports slowed in November. Falling palm oil prices continue to dampen Indian demand for all vegetable oils, including expensive sunflower oil. According to brokers, India has not purchased sunflower oil for the second week in a row, as the difference between sunflower and soybean oils on a CIF India basis was around $180/t, and with palm oil – around $200/t. In the Spanish and Dutch markets, the spread exceeded $120/t. Prices for sunflower oil delivered to India decreased by $10/t to $1,320/t CIF Mumbai in a week, but ...