News&Events
30.06.2024
Rising Panamax Freight Rates from Ukrainian Ports to China with the Onset of the New Season
In the Panamax sector, charterers are compelled to increase freight rates for grain transportation, similar to the barge segment. Meanwhile, there are no significant changes in the coaster and handysize sectors, with rates showing minor fluctuations of +/- $1/ton on specific routes, reports the Ukrainian Grain Association (UGA) citing ASAP.
In the Panamax sector, shipowners are successfully insisting on higher rates due to active demand for barley deliveries in late June and the first half of July. Deteriorating conditions in the Red Sea due to new attacks on vessels also contribute to the rate hikes from shipowners, analysts note.
According to Atria Brokers' freight department, Panamax freight rates for transporting wheat or corn from Ukrainian deep-water ports to southern China have increased by $4/ton to $52-54/ton; rates to southern Vietnam show a similar trend and have reached $50-52/ton. Freight to Bangladesh has risen by $4/ton to $52-54/ton.
In the Panamax sector, shipowners are successfully insisting on higher rates due to active demand for barley deliveries in late June and the first half of July. Deteriorating conditions in the Red Sea due to new attacks on vessels also contribute to the rate hikes from shipowners, analysts note.
According to Atria Brokers' freight department, Panamax freight rates for transporting wheat or corn from Ukrainian deep-water ports to southern China have increased by $4/ton to $52-54/ton; rates to southern Vietnam show a similar trend and have reached $50-52/ton. Freight to Bangladesh has risen by $4/ton to $52-54/ton.
CHRUDIM. Favourable weather conditions and large acreages should enable a significantly larger blue poppy seed crop in the Czech Republic than last year. The winter crop will also be available on the market in a few weeks.
Sowing estimated at 40,000 ha
The unofficial forecasts for the Czech poppy seed crop hold out the prospect of a bumper crop. The plants in the fields are developing well, although there has been some damage due to hail and heavy rain showers. It is estimated that around 40,000 hectares were sown with poppies for the 2024/2025 season. If there are no force majeure events, such as flooding in the fields or extreme drought, there should be sufficient poppy seeds available on the market. With an average yield of 0.70-0.75 mt/ha, this year's poppy seed crop could reach...
Sowing estimated at 40,000 ha
The unofficial forecasts for the Czech poppy seed crop hold out the prospect of a bumper crop. The plants in the fields are developing well, although there has been some damage due to hail and heavy rain showers. It is estimated that around 40,000 hectares were sown with poppies for the 2024/2025 season. If there are no force majeure events, such as flooding in the fields or extreme drought, there should be sufficient poppy seeds available on the market. With an average yield of 0.70-0.75 mt/ha, this year's poppy seed crop could reach...
29.06.2024
Due to the competition of Ukrainian and Russian exporters, sunflower oil has become cheaper than other oils
Competition between Ukraine and Russia on the sunflower oil market has led to a decrease in the price of this product. Prices for it on the world market are lower than for palm and soy oils. This situation enabled India to buy a record amount of sunflower oil for delivery in July — 500,000 tons.
This was told by two leading Indian buyers and a customs official.
“A few weeks ago, crude sunflower oil was available in India at $940 per tonne, including cost, insurance and freight (CIF), for delivery in June, while soybean and palm oil were offered at around $1,015 and $950 per tonne, respectively, according to dealers,” the message reads.
According to one of the buyers, Ukraine, Russia and Argentina competed aggressively in the market and offered sunflower oil at a lower price than other oils. The buyer even reduced the volume of purchases of other oils in favor of sunflower.
According to a market participant, the Indian industry will need some time to process the purchased volumes, so next month’s purchases will be lower. Last marketing year, India, on average, bought 250,000 tons of sunflower oil per month. The previous record volume of sunflower oil imports by India was recorded in January 2023, the volume was 461,458 tons.
29.06.2024
Sunflower seeds: not all fields to be harvested
SOFIA/KYIV. Only recently, the European Commission agreed to the proposal to impose higher taxes on imports of agricultural products from Russia and Belarus into the EU. At a recent meeting of the Lublin Triangle in Warsaw, more far-reaching demands were discussed.
Stricter measures called for
At a recent meeting of the Lublin Triangle in Warsaw, which was attended by representatives of the agrarian committees of the parliaments of Lithuania, Poland and Ukraine, further, in some cases far-reaching, measures were discussed which the European Commission should take. One of the seven points calls for a complete ban on the import of agricultural products from Russia and Belarus into the EU. This was announced by Stepan Cherniavsky, deputy chairman of the parliamentary committee on agrarian and land policy. In addition to other...
Stricter measures called for
At a recent meeting of the Lublin Triangle in Warsaw, which was attended by representatives of the agrarian committees of the parliaments of Lithuania, Poland and Ukraine, further, in some cases far-reaching, measures were discussed which the European Commission should take. One of the seven points calls for a complete ban on the import of agricultural products from Russia and Belarus into the EU. This was announced by Stepan Cherniavsky, deputy chairman of the parliamentary committee on agrarian and land policy. In addition to other...
29.06.2024
Increased sunflower oil imports to India are putting pressure on soybean and palm oil prices
Prices for sunflower oil have become lower than for soybean and palm oil against the background of increased competition between the main exporters - Ukraine and the Russian Federation, whose share in total world exports is more than 70%. This allowed India to purchase a record 500,000 tons of this oil for delivery in June, Reuters reports.
The activation of sunflower oil supplies to India, the world's largest importer of vegetable oils, will reduce the reserves of this oil in the Black Sea region, which will contribute to the increase in prices.
A few weeks ago, crude sunflower oil for June delivery in India was offered at $940/t CIF (the price includes freight and insurance), soybean oil at $1,015/t CIF, and palm oil at $950/t CIF.
In the previous season, India bought an average of 250 thousand tons of sunflower oil every month, mainly from the Black Sea region. But the industry will need time to process the 500,000 tons of oil delivered in June, so its import will decrease in July.
The activation of sunflower oil supplies to India, the world's largest importer of vegetable oils, will reduce the reserves of this oil in the Black Sea region, which will contribute to the increase in prices.
A few weeks ago, crude sunflower oil for June delivery in India was offered at $940/t CIF (the price includes freight and insurance), soybean oil at $1,015/t CIF, and palm oil at $950/t CIF.
In the previous season, India bought an average of 250 thousand tons of sunflower oil every month, mainly from the Black Sea region. But the industry will need time to process the 500,000 tons of oil delivered in June, so its import will decrease in July.
28.06.2024
55 million tons of cargo were exported through the deep-sea ports of Ukraine
During the 10 months of operation of the Ukrainian Maritime Corridor, a record amount of cargo was transported — 55 million tons of cargo.
This was reported by the Ministry of Reconstruction.
During the entire period of operation of the sea corridor, 1,954 ships were loaded in the deep-sea ports of Ukraine, 37.4 million tons of agricultural products were exported to 45 countries.
“The constant increase in the volume of transportation shows the effectiveness of the functioning of the Ukrainian Maritime Corridor, which Ukraine opened ten months ago on its own, exclusively with the assistance of the United Defense Forces,” the ministry noted.
28.06.2024
Sesame seeds: prices firm up
NEW DELHI. La Niña is expected to bring heavier rainfall to the Indian growing regions this summer. Growers could therefore delay sowing.
Prices on the Indian sesame seed market are firming despite low trading activity. The weather phenomenon La Niña is expected to bring heavier monsoon rains to India this summer. Sesame seed farmers in Gujarat are therefore hesitant to plant larger areas for fear of yield losses. In addition, 70-80% of the crop is usually of superior quality. This year, the proportion is expected to be significantly lower, which is why traders are stocking up generously in advance. Export prices for Indian sesame seeds, hulled, 99.98% purity....
Prices on the Indian sesame seed market are firming despite low trading activity. The weather phenomenon La Niña is expected to bring heavier monsoon rains to India this summer. Sesame seed farmers in Gujarat are therefore hesitant to plant larger areas for fear of yield losses. In addition, 70-80% of the crop is usually of superior quality. This year, the proportion is expected to be significantly lower, which is why traders are stocking up generously in advance. Export prices for Indian sesame seeds, hulled, 99.98% purity....
28.06.2024
In July, sunflower oil prices may drop by another $20/ton
The participants of the Sevilla VegOils&Meals Trade conference, which took place on June 14, expressed a common opinion that sunflower oil prices will remain stable in the short term, ASAP Agri reports on its resource.
At the same time, Sunstone Brokers expert S. Repetsky predicts that in July the prices of crude sunflower oil may fall by $20/t to $960-980/t CIF Mersin and $1000-1025/t CIF India, and further price trends will depend on the weather conditions and productivity prospects.
"Already at the beginning of August, sunflower oil prices may rise by $30/t in anticipation of the new harvest, which causes some concern. Traders are already contracting oil of the new harvest, but the difference between the new and the old harvest does not change, which indicates significant stocks of sunflower of the old harvest and uncertain prospects of the sales market," said S. Repetsky.
At the tender for the purchase of vegetable oils in Egypt on June 13, 152,000 tons of sunflower oil of the old harvest were offered, which confirms the significant volume of available offers. At the same time, Egypt contracted only 5 thousand tons of sunflower oil, as it has sufficient reserves. This forced sellers to lower prices to boost sales. However, not all sellers are willing to lower prices because they have very low processing margins.
At the same time, Sunstone Brokers expert S. Repetsky predicts that in July the prices of crude sunflower oil may fall by $20/t to $960-980/t CIF Mersin and $1000-1025/t CIF India, and further price trends will depend on the weather conditions and productivity prospects.
"Already at the beginning of August, sunflower oil prices may rise by $30/t in anticipation of the new harvest, which causes some concern. Traders are already contracting oil of the new harvest, but the difference between the new and the old harvest does not change, which indicates significant stocks of sunflower of the old harvest and uncertain prospects of the sales market," said S. Repetsky.
At the tender for the purchase of vegetable oils in Egypt on June 13, 152,000 tons of sunflower oil of the old harvest were offered, which confirms the significant volume of available offers. At the same time, Egypt contracted only 5 thousand tons of sunflower oil, as it has sufficient reserves. This forced sellers to lower prices to boost sales. However, not all sellers are willing to lower prices because they have very low processing margins.