News&Events
26.05.2024
Sunflower seeds: EU increases imports from China by more than 20%
SOFIA/KYIV. The dwindling commodity supplies are causing sunflower seed prices in Bulgaria to rise. In Ukraine, sowing is around 90% complete.
Raw materials in Bulgaria are running out
In Ukraine, more than 90% of the acreage has now been sown for the spring sowing season. Sunflower seeds have been sown on 4.605 million hectares, which is 87% of the planned acreage.
Freezing temperatures in parts of Ukraine, locally down to -9°C, have caused damage to local wheat, barley, rapeseed and pea fields over the past few days. Areas in the north, east and south of Ukraine are particularly affected. This was announced by Sergiy Avramenko, chief researcher at the Yuriev Institute for Plant Production...
Raw materials in Bulgaria are running out
In Ukraine, more than 90% of the acreage has now been sown for the spring sowing season. Sunflower seeds have been sown on 4.605 million hectares, which is 87% of the planned acreage.
Freezing temperatures in parts of Ukraine, locally down to -9°C, have caused damage to local wheat, barley, rapeseed and pea fields over the past few days. Areas in the north, east and south of Ukraine are particularly affected. This was announced by Sergiy Avramenko, chief researcher at the Yuriev Institute for Plant Production...
U.S. farmers are expected to produce 1.28 billion bushels of winter wheat this year, according to the Crop Production report recently released by USDA’s National Agricultural Statistics Service. In NASS’s first winter wheat production forecast for 2024, production is expected to increase 2% from 2023.
As of May 1, the U.S. yield is expected to average 50.7 bushels per acre, up 0.1 bushel from last year’s average of 50.6 bushels per acre. Hard red winter production is forecast at 705 million bushels, up 17% from a year ago. Soft red winter, at 344 million bushels, is expected to decrease 23% from 2023. White winter, at 229 million bushels, is up 16% from last year. Of the white winter production, 17.3 million bushels are hard white and 211 million bushels are soft white.
As of May 1, the U.S. yield is expected to average 50.7 bushels per acre, up 0.1 bushel from last year’s average of 50.6 bushels per acre. Hard red winter production is forecast at 705 million bushels, up 17% from a year ago. Soft red winter, at 344 million bushels, is expected to decrease 23% from 2023. White winter, at 229 million bushels, is up 16% from last year. Of the white winter production, 17.3 million bushels are hard white and 211 million bushels are soft white.
25.05.2024
Sesame seeds: Indian exporters are hopeful
NEW DELHI. After India was able to secure a large part of the positions in the last South Korean sesame seed tender, exporters have high hopes again this time. However, this would not support prices in the longer term.
Short-term price upswings possible
As the summer crop is now increasingly arriving on the markets, Indian sesame seed prices are receiving little support and have fallen by USD 10/mt compared to last week. The fact that prices have not declined more sharply is primarily due to the new South Korean tender that was recently announced. South Korea wants to buy a total of 10,000 mt of sesame seed, split into two positions of 4,000 mt and 6,000 mt. Shipments must reach the destinations by 16 August and 6 September 2024 respectively. Indian exporters have justified hopes...
Short-term price upswings possible
As the summer crop is now increasingly arriving on the markets, Indian sesame seed prices are receiving little support and have fallen by USD 10/mt compared to last week. The fact that prices have not declined more sharply is primarily due to the new South Korean tender that was recently announced. South Korea wants to buy a total of 10,000 mt of sesame seed, split into two positions of 4,000 mt and 6,000 mt. Shipments must reach the destinations by 16 August and 6 September 2024 respectively. Indian exporters have justified hopes...
25.05.2024
The shortage of sunflower offers leads to an increase in purchase prices in Ukraine
Purchase prices for sunflower in Ukraine are increasing against the backdrop of a shortage of offers from producers and an increase in export prices for sunflower oil and meal.
Following soybean oil prices, sunflower oil export prices for delivery to Black Sea ports rose another $10-15/t during the week to $810-820/t, despite lower demand from India and stable palm oil prices.
Demand prices for sunflower meal with delivery to Black Sea ports for the week increased by another $6-8/t to $215-216/t for non-granulated meal and $220-224/t for granulated meal, responding to the increase in feed prices grain, in particular corn.
Purchase prices for sunflower with an oil content of 46% rose by UAH 500-700/t during the week to UAH 17,500-18,000/t (with VAT) or $370-395/t (without VAT) with delivery to the factory, but for large batches processors offer a bonus.
Following soybean oil prices, sunflower oil export prices for delivery to Black Sea ports rose another $10-15/t during the week to $810-820/t, despite lower demand from India and stable palm oil prices.
Demand prices for sunflower meal with delivery to Black Sea ports for the week increased by another $6-8/t to $215-216/t for non-granulated meal and $220-224/t for granulated meal, responding to the increase in feed prices grain, in particular corn.
Purchase prices for sunflower with an oil content of 46% rose by UAH 500-700/t during the week to UAH 17,500-18,000/t (with VAT) or $370-395/t (without VAT) with delivery to the factory, but for large batches processors offer a bonus.
25.05.2024
What will be the grain transshipment costs in the next 2024/25 season
In the 2023/24 season, grain transshipment/fobbing costs in the ports of Big Odesa range from USD 20-24 per ton. The costs were set also under influence of guaranteed export volumes, fixed in contracts between the fobbing service provider and exporter. Due to the war risks, the transshipment cost has increased significantly, its share in the price of corn on FOB basis averaged about 13% during 2023/24. Before the war, the share was 6-8%, depending on the grain price volatility during the season.
From 2012 to 2020, the fobbing cost constantly decreased due to the investments in terminals capacity building and modernization of existing port elevators. In the 2019/20 season, the average cost was $10 per ton, which was comparable to the European transshipment costs of $7-8 per ton.
From 2012 to 2020, the fobbing cost constantly decreased due to the investments in terminals capacity building and modernization of existing port elevators. In the 2019/20 season, the average cost was $10 per ton, which was comparable to the European transshipment costs of $7-8 per ton.
24.05.2024
VegOils&Meals Trade in Spain!
The international conference will traditionally be dedicated to the EU oilseeds and by-products market with a focus on premium vegetable oils.
The event will take place on June 14 in Seville, Spain.
New food and logistics challenges require modern and bold solutions!
Spain is one of the key players in the oilseed market in Western Europe and a place where important trade routes between Western Europe, North Africa, the Middle East and Latin America intersect.
In addition, Spain is one of the largest importers of soybeans (27% share), meals (14%) and vegetable oils (22%) among the EU countries.
The event will take place on June 14 in Seville, Spain.
New food and logistics challenges require modern and bold solutions!
Spain is one of the key players in the oilseed market in Western Europe and a place where important trade routes between Western Europe, North Africa, the Middle East and Latin America intersect.
In addition, Spain is one of the largest importers of soybeans (27% share), meals (14%) and vegetable oils (22%) among the EU countries.
24.05.2024
Mustard seeds: opportunity for Canada
OTTAWA/MOSCOW. Canada's mustard seed crop is benefiting from favourable weather conditions. Exporters are also hoping for increased demand from the European Union.
Rain favours growth
Good weather conditions prevail in the Canadian mustard seed regions. The plants are benefiting from the abundant rainfall in southern and south-western Saskatchewan, as well as in southern Alberta. At the same time, the cultivation forecast was recently sobering with a decline of 7% compared to last year to 240,000 ha, but the estimates are to be updated in the coming days. If the weather remains favourable, rising yields could at least ensure a slight increase in production.
Rain favours growth
Good weather conditions prevail in the Canadian mustard seed regions. The plants are benefiting from the abundant rainfall in southern and south-western Saskatchewan, as well as in southern Alberta. At the same time, the cultivation forecast was recently sobering with a decline of 7% compared to last year to 240,000 ha, but the estimates are to be updated in the coming days. If the weather remains favourable, rising yields could at least ensure a slight increase in production.
24.05.2024
Palm oil prices remain low due to reduced exports, limiting gains in soybean and sunflower oil prices
Palm oil futures in Malaysia have been trading at a low level for the week, and may fall further on the back of reduced exports. This increases the pressure on soybean and sunflower oil quotes.
For May 1-15, compared to the same period in April, Malaysia reduced the export of palm oil products by 5.2% to 600.8 thousand tons, according to surveyor Intertek Testing Services, and according to the estimates of Societe Generale de Surveillance (SGS) - to 427 thousand tons
July palm oil futures on Bursa Malaysia rose 2.3% to 3,892 ringgit/t or $831/t (+0.7% for two weeks) on Friday amid higher oil prices.
On the Dalian exchange, contracts for palm oil rose by 0.37%, and for soybean oil - by 0.54%.
The Malaysian government left the crude palm oil export duty at 8% for June, but lowered the base price from 4,273.93 ringgit/t in May to 3,956.06 ringgit/t or $845.13/t in June, which will help lower export prices. prices
July soybean oil futures on the Chicago Stock Exchange on Thursday and Friday rose 3.7% to $995/t (+1.8% for the week, +4.8% for the two weeks). But overall for the month, they were down 0.9% on the back of a cut in US processing in April and an acceleration in soybean harvesting in Argentina.
For May 1-15, compared to the same period in April, Malaysia reduced the export of palm oil products by 5.2% to 600.8 thousand tons, according to surveyor Intertek Testing Services, and according to the estimates of Societe Generale de Surveillance (SGS) - to 427 thousand tons
July palm oil futures on Bursa Malaysia rose 2.3% to 3,892 ringgit/t or $831/t (+0.7% for two weeks) on Friday amid higher oil prices.
On the Dalian exchange, contracts for palm oil rose by 0.37%, and for soybean oil - by 0.54%.
The Malaysian government left the crude palm oil export duty at 8% for June, but lowered the base price from 4,273.93 ringgit/t in May to 3,956.06 ringgit/t or $845.13/t in June, which will help lower export prices. prices
July soybean oil futures on the Chicago Stock Exchange on Thursday and Friday rose 3.7% to $995/t (+1.8% for the week, +4.8% for the two weeks). But overall for the month, they were down 0.9% on the back of a cut in US processing in April and an acceleration in soybean harvesting in Argentina.