News&Events
05.05.2024
Sesame seeds: price slump in June
NEW DELHI. Farmers are about to start harvesting the new sesame seed crop in India. Prices are surprisingly firm considering that production is set to decline. Heavy rains may impact production in Tanzania.
New crop adds pressure
As domestic and overseas demand are still lacking the market is still feeling the pressure. The recent tender only prompted a temporary hike and failed to put a stop to the downward trend that started in January. With the arrival of the summer crop in May exporters will have no problem finding supplies to meet the tender, especially since the delivery date for Busan has been set for the end of the month. Prices should decline by another 6-7% as soon as arrivals pick up in June...
New crop adds pressure
As domestic and overseas demand are still lacking the market is still feeling the pressure. The recent tender only prompted a temporary hike and failed to put a stop to the downward trend that started in January. With the arrival of the summer crop in May exporters will have no problem finding supplies to meet the tender, especially since the delivery date for Busan has been set for the end of the month. Prices should decline by another 6-7% as soon as arrivals pick up in June...
In the first 3 months of this year, Kazakhstan has already produced 136.59 thsd tonnes of crude sunflower oil, which is 34% higher than in the first quarter of 2023 and 87% more than in the first quarter of 2022, according to official statistics.
Among the leaders: East Kazakhstan region (EKR) and Abay region – 60 thousand tons and 35 thousand tons respectively.
At the same time, in March, the production volume in the whole of Kazakhstan updated the maximum for the last 16 months and amounted to 47.3 thousand tons.
As for the production of refined sunflower oil in Kazakhstan, the country recorded a 22% year-on-year increase to about 33.5 thsd tonnes.
In the first quarter, SKO and Shymkent produced the largest amount of the product – 17.37 thsd tonnes and 10.7 thsd tonnes respectively.
Among the leaders: East Kazakhstan region (EKR) and Abay region – 60 thousand tons and 35 thousand tons respectively.
At the same time, in March, the production volume in the whole of Kazakhstan updated the maximum for the last 16 months and amounted to 47.3 thousand tons.
As for the production of refined sunflower oil in Kazakhstan, the country recorded a 22% year-on-year increase to about 33.5 thsd tonnes.
In the first quarter, SKO and Shymkent produced the largest amount of the product – 17.37 thsd tonnes and 10.7 thsd tonnes respectively.
04.05.2024
Grain unloading volumes increase in ports of Great Odesa
The average daily grain unloading rate in the ports of Great Odesa increased to 1276 railcars in April, according to Valeriy Tkachev, Deputy Director of the Commercial Department of Ukrzaliznytsia JSC.
“During April, the daily unloading rate of grain wagons in the ports of Greater Odesa ranged from 1000 to 1300 units. The average daily grain unloading rate in the ports of Great Odesa is 1276 wagons. This figure increased by 14 units over the past week,” the expert said.
Also, according to him, the number of grain wagons moving towards the ports of Great Odesa increased from 7608 to 7930. The growth reaches 322 wagons per day.
The accumulation of grain wagons in the direction of the port of Izmail decreased by 21 units. Currently, 1059 wagons are moving to the port. The average daily unloading rate of grain wagons in the port of Izmail is 109 units per day. The figure increased by one wagon during the week.
“During April, the daily unloading rate of grain wagons in the ports of Greater Odesa ranged from 1000 to 1300 units. The average daily grain unloading rate in the ports of Great Odesa is 1276 wagons. This figure increased by 14 units over the past week,” the expert said.
Also, according to him, the number of grain wagons moving towards the ports of Great Odesa increased from 7608 to 7930. The growth reaches 322 wagons per day.
The accumulation of grain wagons in the direction of the port of Izmail decreased by 21 units. Currently, 1059 wagons are moving to the port. The average daily unloading rate of grain wagons in the port of Izmail is 109 units per day. The figure increased by one wagon during the week.
04.05.2024
India’s April palm oil imports jump 41% to three-month high, say dealers
India’s palm oil imports jumped by 41% in April from the previous month to reach the highest level in three months, as easing prices prompted refiners to increase purchases.
Higher palm oil purchases by India, the world’s biggest importer of vegetable oils, could support the benchmark Malaysian palm oil futures FCPOc3 that are trad
ing near their lowest level in three months.
Palm oil imports in April jumped to 682,000 tonnes, according to estimates from dealers.
Palm oil has become more attractive to buyers due to a recent price correction that eliminated its premium over soybean and sunflower oil, said Rajesh Patel, managing partner at edible oil trader and broker GGN Research.
Crude palm oil’s (CPO) imports are offered at about US$920 (RM4,384) a tonne, including cost, insurance and freight (CIF), in India for June delivery, while soyoil and sunflower oil are offered around US$920 and US$945 a tonne, respectively, dealers said.
A month ago, CPO was nearly US$50 per tonne more expensive than rival oils.
Palm oil imports are likely to rise around 700,000 tonnes in May as buyers are shifting towards palm oil by reducing sunflower oil imports, said Sandeep Bajoria, CEO of Sunvin Group, a vegetable oil brokerage.
Higher palm oil purchases by India, the world’s biggest importer of vegetable oils, could support the benchmark Malaysian palm oil futures FCPOc3 that are trad
ing near their lowest level in three months.
Palm oil imports in April jumped to 682,000 tonnes, according to estimates from dealers.
Palm oil has become more attractive to buyers due to a recent price correction that eliminated its premium over soybean and sunflower oil, said Rajesh Patel, managing partner at edible oil trader and broker GGN Research.
Crude palm oil’s (CPO) imports are offered at about US$920 (RM4,384) a tonne, including cost, insurance and freight (CIF), in India for June delivery, while soyoil and sunflower oil are offered around US$920 and US$945 a tonne, respectively, dealers said.
A month ago, CPO was nearly US$50 per tonne more expensive than rival oils.
Palm oil imports are likely to rise around 700,000 tonnes in May as buyers are shifting towards palm oil by reducing sunflower oil imports, said Sandeep Bajoria, CEO of Sunvin Group, a vegetable oil brokerage.
04.05.2024
Kazakhstan actively increases production of sunflower oil
In the first quarter of 2024, Kazakh enterprises produced 136.59 thsd tonnes of crude sunflower oil. This is up 34% compared to the same period of 2023 and 87% higher than the figures for the first quarter of 2022, APK-Inform reported citing the official statistics.
At the same time, in March of this year the production volume of the product reached 47.3 thsd tonnes, which was the absolute monthly record for the last 16 months.
East Kazakhstan (60 thsd tonnes in Q1 2024) and Abay (35 thsd tonnes) regions remain the leaders in the production of crude sunflower oil in Kazakhstan.
As for the production of refined sunflower oil, in the first quarter of this year the country produced about 33.5 thsd tonnes, the growth was 22% (against 27.46 thsd tonnes in the same period of 2023).
At the same time, in March of this year the production volume of the product reached 47.3 thsd tonnes, which was the absolute monthly record for the last 16 months.
East Kazakhstan (60 thsd tonnes in Q1 2024) and Abay (35 thsd tonnes) regions remain the leaders in the production of crude sunflower oil in Kazakhstan.
As for the production of refined sunflower oil, in the first quarter of this year the country produced about 33.5 thsd tonnes, the growth was 22% (against 27.46 thsd tonnes in the same period of 2023).
In January-March of this year, the largest volume of these products was produced in the East Kazakhstan region (17.37 thsd tonnes) and Shymkent city (10.7 thsd tonnes).
.jpg)
03.05.2024
Fall in oil and soybean oil prices has not yet affected palm and sunflower oil prices
This week's 5.4% drop in crude oil prices and 5.3% drop in Chicago soybean oil prices have so far not affected palm and sunflower oil prices, which are supported by a pick-up in physical demand.
June Brent oil futures on London's ICE Futures exchange fell 4.7% to $83.8/barrel for the week, and July soybean oil futures on the Chicago Stock Exchange fell 5.2% to $952/barrel.
A report from the Malaysian Palm Oil Board was more upbeat than traders had expected, with June palm oil futures on Bursa Malaysia falling just 0.8% for the week to RM3,844/t, or $809/t, while the market had expected their sharp decline following oil prices.
In March, crude palm oil production in Malaysia increased by 10.57% compared to February to 1.39 million tons, and exports (including to India) by 28.61% to 1.32 million tons, as a result of which stocks decreased by 10.68% to the 10-month low of 1.71 million tons.
03.05.2024
Exports of sunflower oil from Ukraine are close to record levels
According to the preliminary data of APK-Inform Agency, in September-April of 2023/24 MY Ukraine exported over 4.4 mln tonnes of sunflower oil, up 17% compared to the same period of the previous season, and became the second largest export volume in the history of the country after the figures of 2019/20 MY (4.49 mln tonnes in September-April).
"The demand for the product in the current season from the key global importers was boosted by the more attractive price of sunflower oil compared to other vegetable oils, which resulted in the active increase of the sunflower processing by the Ukrainian mills," - explained APK-Inform.
The analysts also noted that the relatively stable shipments of the oil by sea are the important factor.
"The demand for the product in the current season from the key global importers was boosted by the more attractive price of sunflower oil compared to other vegetable oils, which resulted in the active increase of the sunflower processing by the Ukrainian mills," - explained APK-Inform.
The analysts also noted that the relatively stable shipments of the oil by sea are the important factor.
03.05.2024
Polish farmers end protest at Ukraine border crossing
Polish farmers end protest at Ukraine border crossing
Following months of diplomacy by Kyiv, the farmers ended their last blockade on Monday 29 April, Ukrainian border official Andriy Demchenko was quoted as saying in a report on the same date.
“Fortunately, we have all directions on the border with Poland unblocked,” Demchenko, said, adding that trucks were crossing in both directions. Poland’s border guard spokesman confirmed that comment.
Ukrainian farm minister Mykola Solsky had praised what he said was “constructive work” by Poland, the report said.
The blockade at the border was initially started by Polish truckers at the end of last year over anger at what they claimed was Ukraine’s use of a wartime easing of border restrictions to win market share, Reuters wrote.
Concerns about cheap Ukrainian food imports then led Polish farmers to join the truckers’ protest.
Following the suspension of the blockade, Ukraine's daily average food exports by truck were up almost 20% on Monday compared with mid-April, Solsky’s first deputy Taras Vysotsky said.
Trucks carrying grain will still face checks on the Polish side, according to Kyiv officials...
“Fortunately, we have all directions on the border with Poland unblocked,” Demchenko, said, adding that trucks were crossing in both directions. Poland’s border guard spokesman confirmed that comment.
Ukrainian farm minister Mykola Solsky had praised what he said was “constructive work” by Poland, the report said.
The blockade at the border was initially started by Polish truckers at the end of last year over anger at what they claimed was Ukraine’s use of a wartime easing of border restrictions to win market share, Reuters wrote.
Concerns about cheap Ukrainian food imports then led Polish farmers to join the truckers’ protest.
Following the suspension of the blockade, Ukraine's daily average food exports by truck were up almost 20% on Monday compared with mid-April, Solsky’s first deputy Taras Vysotsky said.
Trucks carrying grain will still face checks on the Polish side, according to Kyiv officials...