Palm and soybean oil quotes have risen, but have not yet supported sunflower oil prices

sharply increased palm oil imports to an 11-month high in June, thanks to falling domestic stocks and a big discount in price compared to soybean and sunflower oils. Palm oil exports from Malaysia in June grew by only 4.3-4.8%, although in the first half of the month they were 17.7-26.3% ahead of the May figure, so stocks in Malaysia will probably grow again, which will increase the pressure on quotes after the data is clarified. Exports of crude and refined palm oil from Indonesia in May increased by 53% compared to May last year, from 1.23 to 1.88 million tons, as the tropical oil began to be sold at a significant discount compared to competitors. July soybean oil futures in Chicago for the week fully recovered the previous week’s 5.8% drop and rose 6% to $1,211/t (+17% month-on-month) amid restrictions on the supply of canola oil from Canada for the biofuel industry and supported by rising soybean prices. It is worth noting that on the Chinese Daylian exchange, the price of ...