News&Events
14.04.2024
Flaxseed: traders feel sabotaged
OTTAWA/BRUSSELS. With the prospect of higher import tariffs for Russian flaxseed, European traders are worried about their business and fear massive price increases. Other growing countries such as India and Canada are coming into focus, but are not really an alternative for buyers at the moment.
Decline in cultivation in Canada
In its latest report, Agriculture and Agri-Food Canada has slightly increased its forecast for domestic flaxseed production in 2024/2025 compared to the previous month's report. Nevertheless, the slightly more generous estimates in terms of acreage and yield would not be sufficient to compensate for a decline in production. At 200,000 ha (last estimate: 196,000 ha), the flaxseed acreage would still be 16% smaller than last year and the expected production volume would only amount to 260,000 mt (-5% compared to last year). At 390,000...
The Bureau of National Statistics also informed that sunflower oil fell in price by 24.6% over the year, which, in turn, contributes to the slowdown of inflation in the country.
Decline in cultivation in Canada
In its latest report, Agriculture and Agri-Food Canada has slightly increased its forecast for domestic flaxseed production in 2024/2025 compared to the previous month's report. Nevertheless, the slightly more generous estimates in terms of acreage and yield would not be sufficient to compensate for a decline in production. At 200,000 ha (last estimate: 196,000 ha), the flaxseed acreage would still be 16% smaller than last year and the expected production volume would only amount to 260,000 mt (-5% compared to last year). At 390,000...
The Bureau of National Statistics also informed that sunflower oil fell in price by 24.6% over the year, which, in turn, contributes to the slowdown of inflation in the country.
The dispute over tolls to transit the Parana River from Paraguay to ports in Argentina started in mid-2023 when Argentina demanded the payment of tolls to pay for maintenance work on the Parana/Paraguay waterway. As reported by InfoCampo, the demand angered authorities in Paraguay, but a meeting last week between the Maritime Shipowners Center (CAFyM), together with the Permanent Commission of Transportation of the Basin del Plata (CPTCP) and the Paraguayan Chamber of Terminals and Private Ports (CATERPPA) as well as government representatives from Argentina and Paraguay seems to have “lowered the temperature” of the dispute.
The demand for tolls came during the last year of the Alberto Fernandes administration, but the change of governments in Argentina last December breathed new life in the negotiations and the dispute is expected to be resolved in the coming months.
The 3,400-kilometer Paraguay/Parana waterway allows continuous navigation between ports of Argentina, Brazil, Bolivia, Paraguay, and Uruguay. The drainage basin covers much of the south, southwest and central west of Brazil, southwest of Bolivia, much of Uruguay, all of Paraguay, and almost all of the north and humid pampas of Argentina. It constitutes one of the most important water reserves on the globe and a vital transportation corridor for South American grain production.
13.04.2024
Sunflower seeds: lack of rainfall in Bulgaria
SOFIA/KYIV. It is comparatively warm and dry in Bulgaria during the sowing period. This year's crop will rely on favourable weather conditions in order to avoid a large yield deficit like last year.
13.04.2024
In March, India increased the import of sunflower oil by 1.5 times
India in March increased sunflower oil imports by 51% from February to 448,000 tons, the second-highest on record, while palm oil imports fell 3.3% to the lowest level since May 2023 at 481,000 tons. Against the background of falling prices, processors have intensified purchases of sunflower oil, reducing imports of competing palm oil. India's cut in palm oil imports could stem the rise in benchmark palm oil futures in Malaysia, which are now near a one-year high, while rising sunflower oil imports will reduce its stocks in the Black Sea region. High prices for palm oil encourage importers to increase the import of sunflower oil, experts of the Sunvin Group company, which produces vegetable oils, believe. Crude palm oil (CPO) for delivery to India in May is being offered at $1,020/t CIF (including freight and insurance), while soybean oil is at $1,000/t and sunflower oil is at $960/t, according to dealers. Palm oil is usually sold cheaper than competing soybean and sunflower oils, but now a sharp decline in its supplies has led to a significant increase in prices. At the same time, competitive prices for sunflower oil will ensure an increase in its import in April and May, according to the company GGN Research, which trades in vegetable oils. Data from the SEA Association on oil imports in March will be released in mid-April.
13.04.2024
The increase in sunflower oil prices in Ukraine will be limited by the decrease in palm oil prices
In Ukraine, against the backdrop of increased demand, during the week, sunflower oil prices rose by $15-20/t to $800-815/t with delivery to Black Sea ports, $840-950/t with delivery to Belarus and $890/t with delivery to Italy. Against the backdrop of rising palm oil prices, importers have stepped up purchases of cheaper sunflower oil.
According to Trading Economics, for the week the average price of sunflower oil delivered to customers increased by 2.9% to $880/t.
Palm oil fell on expectations of lower oil prices as tensions eased in the Middle East as Israel withdrew some troops from the southern Gaza Strip.
May palm oil futures in Malaysia were down 2.5% in three sessions to 4,298 ringgit/t or $905/t (+0.7% for the week). After April 9, when the Ramadan celebration ends, the number of workers on the plantations will increase, so production will increase in April. The Palm Oil Board of Malaysia will release its production, export and reserves report on April 15, instead of the usual April 10, so the market will remain uncertain for now...
According to Trading Economics, for the week the average price of sunflower oil delivered to customers increased by 2.9% to $880/t.
Palm oil fell on expectations of lower oil prices as tensions eased in the Middle East as Israel withdrew some troops from the southern Gaza Strip.
May palm oil futures in Malaysia were down 2.5% in three sessions to 4,298 ringgit/t or $905/t (+0.7% for the week). After April 9, when the Ramadan celebration ends, the number of workers on the plantations will increase, so production will increase in April. The Palm Oil Board of Malaysia will release its production, export and reserves report on April 15, instead of the usual April 10, so the market will remain uncertain for now...
12.04.2024
China accounts for 36% of exports of oil and fat products from Kazakhstan - NOPA
China accounts for 36% of Kazakhstan's total exports of oil and fat products (vegetable oils and meals). China ranks first in the list of importers of these products, said the Chairman of the National Association of Oilseed Processors of Kazakhstan (NOPA) Yadykar Ibragimov during the international conference Chinese Grains&Oils Congress, which is held on April 11-12 in Shanghai.
He specified that in 2022/23 MY Kazakhstan exported vegetable oils and meals to China for $181 mln, which is 57% higher than the previous season ($115 mln). In particular, exports of vegetable oils from Kazakhstan to China amounted to 172.5 thsd tonnes (+120% y-o-y).
The second largest buyer of Kazakh vegetable oils and meals was Uzbekistan with $163 mln (32% share), and the third largest buyer was Tajikistan ($88 mln, 17%).
According to NOPA estimates, in the next 3 years, Kazakhstan can increase exports of these products to China to $300 mln.
Ibragimov noted that in January 2024, a terminal was put into operation at the Alashankou station, which will increase the unloading of vegetable oils to 1 train (45 wagons) per day. Previously, this figure was only 6-7 wagons per day...
He specified that in 2022/23 MY Kazakhstan exported vegetable oils and meals to China for $181 mln, which is 57% higher than the previous season ($115 mln). In particular, exports of vegetable oils from Kazakhstan to China amounted to 172.5 thsd tonnes (+120% y-o-y).
The second largest buyer of Kazakh vegetable oils and meals was Uzbekistan with $163 mln (32% share), and the third largest buyer was Tajikistan ($88 mln, 17%).
According to NOPA estimates, in the next 3 years, Kazakhstan can increase exports of these products to China to $300 mln.
Ibragimov noted that in January 2024, a terminal was put into operation at the Alashankou station, which will increase the unloading of vegetable oils to 1 train (45 wagons) per day. Previously, this figure was only 6-7 wagons per day...
12.04.2024
Cargill and CBH Group plan oilseed crushing plant in Australia
Cargill had been in talks with the West Australian government about securing a site next to CBH’s Kwinana grain terminal, the 28 March report said.
The combination of Cargill and CBH, the country’s largest co-operative, could supply feedstock for a biofuel production hub proposed by global energy giant BP at its former oil import terminal at Kwinana, the AustralianFinancial Review wrote.
According to an earlier report by the Australian Financial Review on 3 March, CBH was set to move into oilseed crushing through a potential tie-in with BP’s US$1bn-plus investment plans for the site.
The Western Australian government was quoted as saying the Cargill project would service the domestic and export oil and meal markets and would make use of locally-grown canola.
Cargill Australia managing director Zsolt Kocza had confirmed the group was working on plans for an oilseed crushing plant with the state and CBH, the report said.
“We see a range of benefits including adding processing capacity to Australia and the ability to process Western Australian canola to oil and meal, besides supplying to the emerging biofuel market both in Australia and internationally,” Kocza was quoted as saying.
Last year, Cargill invested US$50M in upgrading and expanding its Newcastle, Narrabri and Footscray oilseed crushing facilities in Australia, the report said.
Farmers in Western Australia produced about 2.5M tonnes of canola in the last harvest, down from 4.3M tonnes in 2022/23. Most of the canola, particularly genetically modified varieties, was exported to crushing plants, with farmers paid a premium for high oil content.
12.04.2024
India purchased almost 446,000 tons of sunflower oil in March
India’s palm oil imports in March fell about 2.5% from the previous month to 485,354 tons, trade body SEA (Solvent Extractors’ Association of India) said on Thursday.
Soybean oil shipments rose 26.4% to 218,604 tons during the period under review.
Sunflower oil imports rose about 50% to 445,723 tons, while total vegetable oil imports rose more than 23% to 1.2 million tons, the Solvent Extractors’ Association of India (SEA) said, Reuters reported
According to SEA, India may import about 16 million tons of vegetable oils, including 3 million tons of unrefined sunflower oil, at the end of the 2023/24 season (November 2023-October 2024).