Higher highs and lower lows: What’s next for the EU's sunflower oil?

게시됨 2023년 3월 31일

Tridge 요약

Sunflower oil (SFO) prices have been decreasing, falling below $1,000/t last week due to loose market fundamentals, troubles in the rapeseed oil (RSO) market, and wider economic concerns. This downturn might continue, despite a recent rebound, due to an oversupply in European vegetable oil markets from record imports of rapeseed and sunflower seeds. Despite this, SFO prices are expected to rebound due to increased demand from the food and biofuel industries. The market's future remains uncertain, with factors such as China's return to the global market, potential increase in Indian import duties, and operational uncertainty of the grain corridor beyond May influencing the market dynamics.

면책 조항: 위의 요약은 정보 제공 목적으로 Tridge 자체 학습 AI 모델에 의해 생성되었습니다.

원본 콘텐츠

It was only a year ago when sunflower oil (SFO) truly lived up to its golden colour, costing more than double the price of Brent crude. SFO prices have almost steadily come down since March last year, with losses quickening this month, driven by looser market fundamentals, turbulence in competing vegetable oil businesses — especially rapeseed oil (RSO) — and wider macroeconomic concerns. It is still unclear whether the downward trend has ended or if prices can see further drops despite a slight rebound in SFO prices in the past few days. SFO prices trading on a fob six ports basis fell below $1,000/t last week, largely following a massive drop in RSO prices that hit their lowest since November 2020 during bulk oilseed imports to the EU-27, with additional pressure coming from a bleak macroeconomic outlook. The EU-27 is set up to import record volumes of rapeseed and sunflower seeds (SFS) in the 2022-23 marketing year, having already received a respective 6.19mn t and 1.98mn t of ...

출처: UkrAgroConsult