Global: Vegetable oil prices remain under pressure from increased supply of soybean oil

게시됨 2024년 5월 8일

Tridge 요약

Vegetable oil prices have recovered after a dip, with soybean and palm oil futures seeing a rise, despite a decrease in oil prices. This recovery is due to concerns over supply, with losses in soybeans and potential production issues in palm oil due to adverse weather in Indonesia. India, a major buyer of vegetable oils, has increased its imports of edible oils by 13%, with a notable rise in palm and soybean oil imports. However, sunflower oil imports have decreased due to falling prices. Russian sunflower oil export prices have seen a slight increase, which has affected demand from India and China.

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원본 콘텐츠

Vegetable oil prices have rebounded after falling last week, although they remain under pressure from a seasonal build-up in soybean and palm oil supplies, as well as a drop in oil prices. Despite oil prices down 3.2% for the week, soybean oil in Chicago and palm oil in Malaysia rose between 2.2% and 3.2%, recovering from losses late last week. July soybean oil futures in Chicago rose 3.2% to $980/t this week (-9% for the month) on news of a loss of 1-2 million tons of soybeans in Brazil. June palm oil futures in Malaysia rose 2.2% to 3,930 ringgit/t or $830/t from Monday on forecasts of bad weather in Indonesia. The Indonesian Meteorological Agency has warned that thunderstorms and tornadoes may pass through the country from May 7 to 13, which may lead to landslides and floods. From May to August, a dry season will be established on 64% of the country's territory, which will negatively affect the yield of palm trees. On the exchange in Dalian, the most active contract for soybean ...

출처: Graintrade