News&Events
12.05.2024
3rd Sustainable Vegetable Oils Conference
‘Sustainability Transformation Beyond Borders’
10 September 2024, Rotterdam Ahoy Convention Centre, the Netherlands
This annual event organised by the Council of Palm Oil Producing Countries (CPOPC) is a crucial platform aimed at facilitating a comprehensive dialogue among international stakeholders of the vegetable oil industry. This year’s theme of ‘Sustainability Transformation Beyond Borders’ is centred around implementation of the EU Deforestation Regulation (EUDR), food & energy security, and the role of vegetable oil in meeting rapid growth of the global population. The event is organised in partnership with the Netherlands Oils and Fats Industry (MVO) and the Indonesian Palm Oil Association (GAPKI).
10 September 2024, Rotterdam Ahoy Convention Centre, the Netherlands
This annual event organised by the Council of Palm Oil Producing Countries (CPOPC) is a crucial platform aimed at facilitating a comprehensive dialogue among international stakeholders of the vegetable oil industry. This year’s theme of ‘Sustainability Transformation Beyond Borders’ is centred around implementation of the EU Deforestation Regulation (EUDR), food & energy security, and the role of vegetable oil in meeting rapid growth of the global population. The event is organised in partnership with the Netherlands Oils and Fats Industry (MVO) and the Indonesian Palm Oil Association (GAPKI).
Argentina may start the season-2024/25 with lower stocks of sunflower oil compared to the previous crop year. According to the forecast of the Foreign Agricultural Service of the USDA, at the beginning of 2024/25 MY the country will have about 224 thsd tonnes of the product, compared to 265 thsd tonnes in 2023/24 MY and 282 thsd tonnes in 2022/23 MY.
As for production, it is also expected to decline to 1.5 mln tons from 1.63 mln tons a year earlier. Against the same background, export volumes may decline by 15% to 850 thsd tonnes compared to the level of 2023/24 season.
The situation with sunflower meal is generally similar: the estimate of its output in the new season is still at almost 1.55 mln tonnes, compared to 1.643 mln tonnes in 2023/24. Exports are expected to decline from 1.1 mln tonnes to 875 thsd tonnes.
11.05.2024
EU oilseed and grain associations endorse adoption of EU Corporate Sustainability Due Diligence Directive (CSDDD)
A joint statement welcoming the directive was issued on 24 April by the EU vegetable oil and protein meal industry association (FEDIOL), EU trade association for cereals, rice, feedstuffs, oilseeds, olive oil, oils and fats (COCERAL) and EU feed manufacturers’ federation (FEFAC).
Subject to final approval by member states before becoming law, the CSDDD establishes legal liability for corporations on environmental and human rights issues in European courts. It includes new rules on supply chain due diligence, one of a set of laws passed including action on toxic air, packaging and packaging waste.
The agreed upon legislation includes changes to the original proposal, with the number of companies that the law would impact reduced from 16,300 to 5,400.
Subject to final approval by member states before becoming law, the CSDDD establishes legal liability for corporations on environmental and human rights issues in European courts. It includes new rules on supply chain due diligence, one of a set of laws passed including action on toxic air, packaging and packaging waste.
The agreed upon legislation includes changes to the original proposal, with the number of companies that the law would impact reduced from 16,300 to 5,400.
11.05.2024
Ukrainian processors raise the purchase prices for sunflower
After the increase in export prices for sunflower oil and meal, domestic processors stepped up purchases of sunflower, which led to an increase in purchase prices, especially given the restraint of sales by producers.
During the week, sunflower purchase prices increased by UAH 300-500/t to UAH 16,700-17,000/t (including VAT) with delivery to the plant, which is the highest level since March 2023. Processors pay a premium for large batches in order to accumulate volumes of raw materials. and also reduce the processing margin to a minimum level. Therefore, in the near future, sunflower prices will continue to rise, even in the event of a possible decrease in oil export prices.
Export prices for sunflower oil delivered to Black Sea ports currently remain at $780-790/t due to reduced demand from China and India and increased competition with Russian oil.
Demand prices for sunflower meal with delivery to Black Sea ports rose to $195-205/t, which further supports sunflower prices.
During the week, sunflower purchase prices increased by UAH 300-500/t to UAH 16,700-17,000/t (including VAT) with delivery to the plant, which is the highest level since March 2023. Processors pay a premium for large batches in order to accumulate volumes of raw materials. and also reduce the processing margin to a minimum level. Therefore, in the near future, sunflower prices will continue to rise, even in the event of a possible decrease in oil export prices.
Export prices for sunflower oil delivered to Black Sea ports currently remain at $780-790/t due to reduced demand from China and India and increased competition with Russian oil.
Demand prices for sunflower meal with delivery to Black Sea ports rose to $195-205/t, which further supports sunflower prices.
11.05.2024
Vegetable oil market – A look into May-December 2024
The global soybeans oversupply remains a stable and constant factor keeping soybean and soybean oil prices stable, thereby increasing short-term pressure on other vegetable oils.
However, the bad weather in Argentina is unlikely to jeopardize global soybean supplies. Most likely, if the weather continues to be unfavorable, this could support soybean and soybean oil prices.
- Crude oil. Crude oil price has continued to fall. The market is still focused on the situation in the Middle East.
- Palm oil. Palm oil is waiting for crude oil prices to rise as this will increase biodiesel industry demand. Global palm oil production and exports are expected to increase as usual at this time of the year, which will affect prices.
- Sunflower and Sunflower Oil. SFS stocks are low in the Black Sea&Danube region. In May-June, 2024, SFS crushing is expected to decrease, reducing SFO supply. This trend has not yet been taken into account by SFO buyers.
- Vegetable oil stocks in India and other importing countries have reduced recently. Buyers are likely to intend to replenish their vegetable oil stocks by biger SFO purchases in the coming months, given the war risks of supply disruptions from Ukraine.
10.05.2024
Sunflower seeds: production expected to increase by 5%
SOFIA/KYIV. According to current estimates, EU sunflower seed production in 2024 is expected to increase by 5% compared to last year. In China, traders are selling their stocks at more favourable prices.Significantly better crops in Bulgaria and Romania.
In countries such as Bulgaria, the sunflower seed crop was significantly lower than usual last year. The EU Commission is forecasting a remarkable increase in production again for the coming season. The current forecasts are in line with previous expectations, with a total of 1.688 million mt of sunflower seeds expected to be harvested across the EU in the 2024/2025 season. In the main growing countries Romania (+16% to 2.698 million mt) and Bulgaria (+26% to 2.038 million mt), the results are expected to be signifi...
In countries such as Bulgaria, the sunflower seed crop was significantly lower than usual last year. The EU Commission is forecasting a remarkable increase in production again for the coming season. The current forecasts are in line with previous expectations, with a total of 1.688 million mt of sunflower seeds expected to be harvested across the EU in the 2024/2025 season. In the main growing countries Romania (+16% to 2.698 million mt) and Bulgaria (+26% to 2.038 million mt), the results are expected to be signifi...
10.05.2024
Global rapeseed production set to remain stable this year
According to data published by the US Department of Agriculture (USDA), global rapeseed production in the current crop year is set to total 88.4M tonnes.
Although the latest estimate was 317,000 tonnes higher than the USDA’s March forecast, the current season was expected to fall short of the previous year’s output of 88.8M tonnes, UFOP reported on 19 April.
Despite a reduction in rapeseed planted area by Australian farmers this year due to ongoing low prices, the country’s rapeseed harvest was estimated to exceed previous expectations by 200,000 tonnes, reaching 5.7M tonnes.
However, the volume would be well below Australia’s output of 8.3M tonnes the previous year.
Meanwhile, a sharp increase in rapeseed production in Moldova was forecast from 77,000 tonnes to 285,000 tonnes.
According to latest USDA information, global rapeseed consumption is expected to total 88M tonnes, with ending stocks up 2.9M tonnes from the previous year to 7.8M tonnes and 334,000 tonnes higher than the March outlook.
Rapeseed demand was expected to increase, particularly in Canada.
Although the latest estimate was 317,000 tonnes higher than the USDA’s March forecast, the current season was expected to fall short of the previous year’s output of 88.8M tonnes, UFOP reported on 19 April.
Despite a reduction in rapeseed planted area by Australian farmers this year due to ongoing low prices, the country’s rapeseed harvest was estimated to exceed previous expectations by 200,000 tonnes, reaching 5.7M tonnes.
However, the volume would be well below Australia’s output of 8.3M tonnes the previous year.
Meanwhile, a sharp increase in rapeseed production in Moldova was forecast from 77,000 tonnes to 285,000 tonnes.
According to latest USDA information, global rapeseed consumption is expected to total 88M tonnes, with ending stocks up 2.9M tonnes from the previous year to 7.8M tonnes and 334,000 tonnes higher than the March outlook.
Rapeseed demand was expected to increase, particularly in Canada.
10.05.2024
The international oil and fat conference FOC 2024 starts in a month!
In a month, on June 7, Almaty will host the third international oil and fat conference «FOC 2024: Fats and Oils Conference». The event is organized by the National OILSEED PROCESSORS ASSOCIATION (NOPA), the general media partner is APK-Inform Asia, and the general sponsor is Myande Group, the largest manufacturer of high-tech industrial equipment.
Kazakhstan is the largest player in the oil and fat market of Central Asia. In recent seasons, it has been actively increasing production of vegetable oils and high-protein feeds, as well as developing exports, not only to traditional markets, but also to new ones.
FOC 2024: Fats and Oils Conference will set the benchmarks for the development of Kazakhstan's fat and oil industry, outline the prospects for production, exports and imports, logistics, investments, etc.
The conference will bring together key participants of the fat-and-oil market of Kazakhstan, representatives of foreign companies, industry experts, and government officials.
The list of companies that have confirmed their participation in the conference includes the largest oil plants in Kazakhstan, including: May JSC, Altyn Shyghys LLP, Qazaq-Astyk Group LLP, Maslo-Del LLP, Bota-2015 LLP, Vostokselkhozprodukt LLP and others.
Kazakhstan is the largest player in the oil and fat market of Central Asia. In recent seasons, it has been actively increasing production of vegetable oils and high-protein feeds, as well as developing exports, not only to traditional markets, but also to new ones.
FOC 2024: Fats and Oils Conference will set the benchmarks for the development of Kazakhstan's fat and oil industry, outline the prospects for production, exports and imports, logistics, investments, etc.
The conference will bring together key participants of the fat-and-oil market of Kazakhstan, representatives of foreign companies, industry experts, and government officials.
The list of companies that have confirmed their participation in the conference includes the largest oil plants in Kazakhstan, including: May JSC, Altyn Shyghys LLP, Qazaq-Astyk Group LLP, Maslo-Del LLP, Bota-2015 LLP, Vostokselkhozprodukt LLP and others.