Falling palm oil prices increase pressure on sunflower and sunflower oil prices in Ukraine

게시됨 2024년 12월 23일

Tridge 요약

Palm oil prices have seen a significant drop of 9.6% last week and 15.6% in two weeks due to decreased export demand, with Malaysia reducing its exports by 7.6-8.3% in December. This downturn is part of a larger trend affecting soybean and sunflower oil prices, driven by favorable weather conditions for soybean sowing in Brazil and an oversupply in the market. The Ukroliyaprom Association in Ukraine is calling on farmers to speed up sunflower sales, citing high prices that are not in line with the global market trend, and anticipates stabilization and a increase in sunflower supplies once factories start processing again.

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원본 콘텐츠

Palm oil prices fell 9.6% last week, and have lost 15.6% in two weeks as export demand has waned. According to surveyors, Malaysia reduced its palm oil exports by 7.6-8.3% from December 1-20 compared to the same period in November, and in the next 10 days, amid the New Year holidays, they will decrease even more. On the Bursa exchange, February palm oil futures fell 1.6% on Friday to 4,434 ringgit/t or $984/t (-9.6% for the week), and the benchmark FCPO1 palm oil contract for March delivery fell 1.64% or 74 ringgit/t to 4,434 ringgit/t ($983.24/t). Following them and against the backdrop of favorable weather for soybean sowing in Brazil, January soybean oil futures in Chicago fell by 7.8% to $870/tonne in a week (-8.9% in two weeks). According to Trading Economics, the average price for sunflower oil delivered to buyers fell by 1.5% to $1,261/tonne in a week (-3.6% in two weeks). The number of offers remains limited, as sellers are not ready to lower prices to the level of soybean ...

출처: Graintrade