World: Sunflower oil prices rise amid delay in sunflower harvesting campaign in Black Sea region

Published Sep 21, 2021

Tridge summary

The global vegetable oils market experienced price fluctuations from September 3 to 10, 2021. Palm oil prices saw a decline due to increased stocks from Malaysian and Indonesian producers, although export demand mitigated the drop. Soybean oil prices surged, fueled by rising soybean and crude oil prices. Sunflower oil prices increased due to delayed harvests in the Black Sea region and a supply shortage. Indian ports reported a rise in crude sunflower oil prices for October, only to fall slightly for November and December. Export prices for sunflower meal increased by $10/t, reaching $270-280/t, FOB. Domestic prices for sunflower oil and soybean oil increased, while soybean meal prices fell but meal prices barely rose.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The global market of vegetable oils in the period (03.09.2021-10.09.2021) was still in a mixed price trend. Palm oil prices fell amid rising oil stocks from Malaysian and Indonesian producers. At the same time, the decline was limited by the intensification of export demand. At the same time, soybean oil prices rose, supported by strengthening soybean and crude oil prices. Sunflower oil prices have risen amid delays in the Sunflower harvest campaign in the Black Sea region, insufficient supply of sunflower oil and lower import duties on vegetable oils in India. Prices for crude sunflower oil in India have risen and by the end of the reporting week in Indian ports amounted to: in October - 1310-1350 US dollars / t CIF (+40 US dollars / t); in November / December - 1290-1330 USD / t CIF. During the reporting period, export prices ...

Source: Infoindustria