News&Events
03.03.2024
Sunflower seeds: China buys cheap goods from Europe
SOFIA/DALIAN. Chinese traders are meeting the growing domestic demand with cheaper imports from European suppliers. Meanwhile, the Bulgarian sunflower seed market is comparatively quiet.
Decisions are pending
The Bulgarian sunflower seed market is characterised by low trading activity and prices are stable for the time being. Hulled sunflower kernels, bakery are offered at prices of EUR 815-825/mt DDP Germany, as in the previous week, while prices for unhulled black sunflower seeds are at EUR 400/mt CPT Varna...
Decisions are pending
The Bulgarian sunflower seed market is characterised by low trading activity and prices are stable for the time being. Hulled sunflower kernels, bakery are offered at prices of EUR 815-825/mt DDP Germany, as in the previous week, while prices for unhulled black sunflower seeds are at EUR 400/mt CPT Varna...
NEW DELHI. The forecasts for the summer crop in Gujarat were revised this week. Meanwhile, a lack of demand from the domestic and overseas markets is putting pressure on prices in the Indian sesame seed market.
5% smaller acreage in Gujarat
The South Korean tender for 12,000 mt of sesame seeds was expected to provide a boost to the Indian sesame seed market, but the meagre 1,050 mt actually going to Indian exporters were not able to do so. Accordingly, prices for Indian sesame seeds have declined noticeably this week. In addition to the disappointing tender conclusion, general demand from domestic and overseas markets also remains low, which is putting additional pressure on prices...
5% smaller acreage in Gujarat
The South Korean tender for 12,000 mt of sesame seeds was expected to provide a boost to the Indian sesame seed market, but the meagre 1,050 mt actually going to Indian exporters were not able to do so. Accordingly, prices for Indian sesame seeds have declined noticeably this week. In addition to the disappointing tender conclusion, general demand from domestic and overseas markets also remains low, which is putting additional pressure on prices...
02.03.2024
Yield10 grants Vision Bioenergy Oilseeds global licence for herbicide-tolerant camelina
US agricultural bioscience company Yield10 Bioscience has granted a global licence to Vision Bioenergy Oilseeds for herbicide-tolerant camelina as a feedstock oil for biofuels.
As part of the partnership, Yield10 said it would supply Vision with spring and winter camelina varieties including varieties that were herbicide tolerant to broadleaf herbicide glufosinate and soil residual Group 2 herbicides.
Under the licence, Vision would have a three-year licence to commercialise the traits and varieties for use in biofuels, Yield10 said on 14 February.
After three years, Vision’s licence would convert to non-exclusive status worldwide, Yield10 said.
Yield10 said it would retain the right to sub-license the camelina traits and varieties and to continue to utilise and develop camelina to produce omega-3 oil and other camelina oil and meal products.
“With this licence, we’ll be able to significantly expand our contract production of camelina suited for use as a cover crop or in rotation with other commercial crops,” Vision CEO Don Panter said.
“In 2024, we plan to sample this herbicide tolerance system with some of our key camelina growers, while … building planting seed supply to support a potential commercial launch in 2025.”
A joint venture between S&W Seed Company and Equilon Enterprises, Vision Bioenergy Oilseeds is a US agricultural company with a focus on producing crops such as camelina sativa as primary feedstocks for ultra-low carbon biofuels...
As part of the partnership, Yield10 said it would supply Vision with spring and winter camelina varieties including varieties that were herbicide tolerant to broadleaf herbicide glufosinate and soil residual Group 2 herbicides.
Under the licence, Vision would have a three-year licence to commercialise the traits and varieties for use in biofuels, Yield10 said on 14 February.
After three years, Vision’s licence would convert to non-exclusive status worldwide, Yield10 said.
Yield10 said it would retain the right to sub-license the camelina traits and varieties and to continue to utilise and develop camelina to produce omega-3 oil and other camelina oil and meal products.
“With this licence, we’ll be able to significantly expand our contract production of camelina suited for use as a cover crop or in rotation with other commercial crops,” Vision CEO Don Panter said.
“In 2024, we plan to sample this herbicide tolerance system with some of our key camelina growers, while … building planting seed supply to support a potential commercial launch in 2025.”
A joint venture between S&W Seed Company and Equilon Enterprises, Vision Bioenergy Oilseeds is a US agricultural company with a focus on producing crops such as camelina sativa as primary feedstocks for ultra-low carbon biofuels...
02.03.2024
APK-Inform invites you to the VegOils&Meals Trade conference in Spain!
APK-Inform Agency invites you to the VegOils&Meals Trade conference in Spain!
The upcoming international conference will focus on the EU oil market, with particular emphasis on premium vegetable oils and processed products.
The event will be held on June 14 in Barcelona, Spain.
«Open new horizons of Europe!». Together we will open new prospects for your business!
Why Spain?
Barcelona stands as a pivotal hub in the oilseed market of Western Europe, enriched by its strategic location as one of the Mediterranean Sea's largest port cities. Serving as a vital nexus, it intersects crucial trade routes linking Western Europe, North Africa, the Middle East, and Latin America.
In addition, Spain is one of the EU's largest importers of soybeans (27% share), meal (14%) and vegetable oils (22%).
This season, Spain increased imports of Ukrainian sunflower oil by 64% and took 4th place among EU countries in this indicator with a share of 10%. This country also became the second largest buyer of high oleic sunflower oil in the overall ranking of countries with a share of 17%.
Spain also accounts for up to 7% of the total exports of Ukrainian oilseed meal to the EU (in particular, the country became the second largest importer of Ukrainian rapeseed meal in 2023/24 MY).
The upcoming international conference will focus on the EU oil market, with particular emphasis on premium vegetable oils and processed products.
The event will be held on June 14 in Barcelona, Spain.
«Open new horizons of Europe!». Together we will open new prospects for your business!
Why Spain?
Barcelona stands as a pivotal hub in the oilseed market of Western Europe, enriched by its strategic location as one of the Mediterranean Sea's largest port cities. Serving as a vital nexus, it intersects crucial trade routes linking Western Europe, North Africa, the Middle East, and Latin America.
In addition, Spain is one of the EU's largest importers of soybeans (27% share), meal (14%) and vegetable oils (22%).
This season, Spain increased imports of Ukrainian sunflower oil by 64% and took 4th place among EU countries in this indicator with a share of 10%. This country also became the second largest buyer of high oleic sunflower oil in the overall ranking of countries with a share of 17%.
Spain also accounts for up to 7% of the total exports of Ukrainian oilseed meal to the EU (in particular, the country became the second largest importer of Ukrainian rapeseed meal in 2023/24 MY).
02.03.2024
Grains and oilseeds: Zelenskiy urges Poland to resolve dispute
BRUSSELS. Wheat is still under pressure and tensions are escalating in Poland over Ukraine’s transit shipments of corn and rapeseed. US exporters are struggling to compete with Brazil's soybeans.
Wheat still under pressure
Russia’s export prices have continued to fall and have reached the lowest level since the end of 2020 with wheat trading at USD 125/mt FOB Black Sea. Prices may continue to decline as there is not enough demand, which has also pressured prices in the EU. The country exported 1.0 million mt of grains last week, which is down on the 1.2 million mt registered in the previous week. Wheat comprised 870,000 mt last week and 1.1 million mt in the previous week. SovEcon has also raised the export estimates for February by 500,000 mt to 3.8 m...
Wheat still under pressure
Russia’s export prices have continued to fall and have reached the lowest level since the end of 2020 with wheat trading at USD 125/mt FOB Black Sea. Prices may continue to decline as there is not enough demand, which has also pressured prices in the EU. The country exported 1.0 million mt of grains last week, which is down on the 1.2 million mt registered in the previous week. Wheat comprised 870,000 mt last week and 1.1 million mt in the previous week. SovEcon has also raised the export estimates for February by 500,000 mt to 3.8 m...
01.03.2024
EU sunflower oil prices fell to 3-year lows as soybean oil prices fell
Against the background of active supplies of sunflower oil to the EU, its prices in European ports fell to a 3-year low, but this did not lead to increased demand. At the same time, the prices of rapeseed oil became higher than those of sunflower oil for the first time, due to the high demand for biofuel, - reports Agricensus.
The blockade of Black Sea ports in Ukraine, tension in the Red Sea and difficulties in the operation of alternative routes led to the fact that large volumes of sunflower oil entered the EU market at very low prices. However, this does not increase the demand for oil, as the EU market is already oversupplied.
Another consequence of the supply of cheap sunflower oil from Ukraine to the EU was a reduction in soybean and palm oil imports. According to the European Commission, from July 2023 the import of sunflower oil to the EU increased by 30% to 1.6 million tons compared to the same period of the previous season, with the share of supplies from Ukraine in this import increasing from 89.7% in 2023 to 92.6% in 2024
According to Agricensus, sunflower oil prices for Q2 2024 delivery at 6 EU ports fell from €845 or $915/t to €831/t or $900/t FOB, the lowest level since September 2020, when the price was $855/t FOB...
The blockade of Black Sea ports in Ukraine, tension in the Red Sea and difficulties in the operation of alternative routes led to the fact that large volumes of sunflower oil entered the EU market at very low prices. However, this does not increase the demand for oil, as the EU market is already oversupplied.
Another consequence of the supply of cheap sunflower oil from Ukraine to the EU was a reduction in soybean and palm oil imports. According to the European Commission, from July 2023 the import of sunflower oil to the EU increased by 30% to 1.6 million tons compared to the same period of the previous season, with the share of supplies from Ukraine in this import increasing from 89.7% in 2023 to 92.6% in 2024
According to Agricensus, sunflower oil prices for Q2 2024 delivery at 6 EU ports fell from €845 or $915/t to €831/t or $900/t FOB, the lowest level since September 2020, when the price was $855/t FOB...
01.03.2024
Ukrainian sunflower crushing margins fall due to low sunflower oil and meal prices
Crushing margins for sunflower oil and meal producers in the Black Sea have been impacted by falling prices for processed products in the past month, with margins for some crushers at the bare minimum in some regions, trade sources told AgriCensus.
Prices for sunflower oil had fallen by 7% over the period, while sunflower meal prices had dropped by 24% due to ongoing decreased demand from main export markets, leaving processing margins in some regions tight as sunflower prices remained at high levels, the 23 February report said.
Traders were quoted as saying they expected a drop in production levels, particularly in Ukraine as Russia was targeting excess flows into the Turkish market.
In the month prior to the report, sunflower oil prices had decreased by an average of US$60-US$70/tonne – or 7% – depending on the country of origin – and were reportedly at US$835-US$840/tonne CIF Mersin for spot delivery, against buyers’ expectations of US$825-US$830/tonne CIF Mersin.
Trade sources told AgriCensus they expected the market had almost reached its minimum but did not rule out further adjustments in the short term, stating March would be a key month.
Prices for sunflower meal fell by 24% in Ukrainian ports to US$155-US$165/tonne CPT port and were down by 17.5%-18% to US$225-US$235/tonne CIF Marmara, according to buying levels for March delivery...
Prices for sunflower oil had fallen by 7% over the period, while sunflower meal prices had dropped by 24% due to ongoing decreased demand from main export markets, leaving processing margins in some regions tight as sunflower prices remained at high levels, the 23 February report said.
Traders were quoted as saying they expected a drop in production levels, particularly in Ukraine as Russia was targeting excess flows into the Turkish market.
In the month prior to the report, sunflower oil prices had decreased by an average of US$60-US$70/tonne – or 7% – depending on the country of origin – and were reportedly at US$835-US$840/tonne CIF Mersin for spot delivery, against buyers’ expectations of US$825-US$830/tonne CIF Mersin.
Trade sources told AgriCensus they expected the market had almost reached its minimum but did not rule out further adjustments in the short term, stating March would be a key month.
Prices for sunflower meal fell by 24% in Ukrainian ports to US$155-US$165/tonne CPT port and were down by 17.5%-18% to US$225-US$235/tonne CIF Marmara, according to buying levels for March delivery...
01.03.2024
Against the background of rising oil prices, palm and soybean oil prices rose, despite the absence of fundamental supporting factors
A 2.5% rise in oil prices this week supported palm oil and soybean oil, although overall markets remain under pressure from higher production and lower exports.
April palm oil futures on the Bursa Malaysia exchange rose for three straight sessions and rose 1.58% yesterday to 3,924 ringgit/t or $824/t (+1.6% on the week), remaining fairly stable for two weeks
According to surveyors AmSpec Agri and Intertek Testing Services, for February 1-25, compared to the same period in January, Malaysia reduced exports of palm oil products by 11.8-14.3% to 860-950 thousand tons, which increases the pressure on quotations. especially in anticipation of the spring increase in production.
Next week, a major industry conference will be held in Kuala Lumpur where production and consumption forecasts for Malaysia and Indonesia to 2024 will be presented.
According to the forecasts of the Indonesian Palm Oil Association GAPKI, in 2024 Indonesia will increase production by 5% to 57.6 million tons. At the same time, the export of palm oil from Indonesia in 2023 decreased compared to 2022 by 2.7% from 33.1 to 32.2 million tons. Export earnings also decreased, as the average price in 2023 was lower than in 2022.
In 2023, the use of palm oil in the production of biodiesel is expected to exceed consumption in the form of food. According to the Ministry of Energy of Indonesia, the consumption of biodiesel in 2023 was 12.2 million kiloliters, and in 2024 it will reach 12.5-13 million kiloliters...
April palm oil futures on the Bursa Malaysia exchange rose for three straight sessions and rose 1.58% yesterday to 3,924 ringgit/t or $824/t (+1.6% on the week), remaining fairly stable for two weeks
According to surveyors AmSpec Agri and Intertek Testing Services, for February 1-25, compared to the same period in January, Malaysia reduced exports of palm oil products by 11.8-14.3% to 860-950 thousand tons, which increases the pressure on quotations. especially in anticipation of the spring increase in production.
Next week, a major industry conference will be held in Kuala Lumpur where production and consumption forecasts for Malaysia and Indonesia to 2024 will be presented.
According to the forecasts of the Indonesian Palm Oil Association GAPKI, in 2024 Indonesia will increase production by 5% to 57.6 million tons. At the same time, the export of palm oil from Indonesia in 2023 decreased compared to 2022 by 2.7% from 33.1 to 32.2 million tons. Export earnings also decreased, as the average price in 2023 was lower than in 2022.
In 2023, the use of palm oil in the production of biodiesel is expected to exceed consumption in the form of food. According to the Ministry of Energy of Indonesia, the consumption of biodiesel in 2023 was 12.2 million kiloliters, and in 2024 it will reach 12.5-13 million kiloliters...