Global: A 3.2 percent decline in rapeseed prices led to a collapse in palm oil futures by 3.5 percent

The 15% fall in world oil prices since the beginning of March and the decline in demand for vegetable oils, which led to a sharp drop in their prices, continue, which increases pressure on the quotes of soybeans, rapeseed and palm oil. Rapeseed quotations on the stock exchange in Paris yesterday fell by 3.2% to the lowest level since August 2021 - 453.75 € / t or 486 $ / t (-22.8% m/m, -60% y/y) against the backdrop of reduced demand and increased supply in the European market from Canada and Australia, as well as forecasts of a good harvest of rapeseed in the EU in the new season. May futures for canola in Winnipeg also fell 1.8% yesterday to 738.5 CAD/t or $540/t (-13% mom, -24.5% yoy). The fall in prices for Black Sea sunflower oil during the month by 15% and the decline in prices for rapeseed oil in the EU below the level of palm oil prices increase pressure on quotes on the Bursa Malaysia Derivatives exchange. There, May palm oil futures have been depreciating over the past ...