India has completely suspended purchases of sunflower oil

Repetsky, partner at Sunstone Brokers. According to the analyst, at the beginning of last week the difference between sunflower and soybean oils on a CIF India basis was about $180, and with palm oil – about $200. In the markets of Spain and the Netherlands, the spread exceeded $120. In general, during the past week there was a significant decrease in prices for vegetable oils. Sunflower oil fell the most: from the beginning to the end of the week its value on a FOB Ukrainian ports basis fell by $60. The fall began with the palm oil market, which fell by $20–30 a day due to increased inventories and reduced exports from Malaysia and Indonesia. This caused a decrease in soybean oil quotes on the Chicago Stock Exchange, and then sunflower oil, as demand for it remains weak. Additional pressure on prices is being created by favorable weather in South America. Argentina forecasts a record 6.1 million tons of sunflower seeds, but even its active oil offers at $1,170 FOB are not finding ...