News&Events
India's palm oil imports surged to their highest in four months in December, driven by increased purchases of refined palmolein due to competitive prices, a leading trade body said on Friday.
Higher purchases by the world's biggest importer of vegetable oils could help lower palm oil stocks in top producers Indonesia and Malaysia and support benchmark futures.
The Solvent Extractors' Association of India (SEA) reported a 2.8% rise in December palm oil imports to 894,186 metric tons, with refined palm oil imports soaring by 47% to 251,667 tons.
The negative refining margin for crude palm oil in India, coupled with lower prices offered by exporting countries for refined palm oil, made it an attractive option for buyers.
The landed cost of refined bleached deodorised (RBD) palmolein at Mumbai port was approximately $25 per ton lower than crude palm oil, dealers said.
In addition to palm oil, sunflower oil imports more than doubled in December, reaching 260,850 tons, the highest in three months.
This, along with increased palm oil imports, contributed to a 12.9% month-on-month rise in India's total vegetable oil imports to 1.31 million metric tons...
Higher purchases by the world's biggest importer of vegetable oils could help lower palm oil stocks in top producers Indonesia and Malaysia and support benchmark futures.
The Solvent Extractors' Association of India (SEA) reported a 2.8% rise in December palm oil imports to 894,186 metric tons, with refined palm oil imports soaring by 47% to 251,667 tons.
The negative refining margin for crude palm oil in India, coupled with lower prices offered by exporting countries for refined palm oil, made it an attractive option for buyers.
The landed cost of refined bleached deodorised (RBD) palmolein at Mumbai port was approximately $25 per ton lower than crude palm oil, dealers said.
In addition to palm oil, sunflower oil imports more than doubled in December, reaching 260,850 tons, the highest in three months.
This, along with increased palm oil imports, contributed to a 12.9% month-on-month rise in India's total vegetable oil imports to 1.31 million metric tons...
High import duties; resisting pressure to open agri sector imp to ensure India's food security: GTRI
"This has become possible due to focus on policies like the green and white revolution, high import tariffs and active negotiations at the WTO (World Trade Organisation) to protect food security concerns for the 1.4 billion people over developed country pressure to open Indian agriculture to subsidised imports," GTRI Co-Founder Ajay Srivastava said.
On the sugar sector, the report said that India is the world's largest sugar exporter after Brazil, but this year, it will import sugar in vast quantities as the sugar imports are estimated to grow steeply by 385.4 per cent, from USD 252 million in 2022 to USD 1,223.4 million in 2023.
Imports have increased in 2023 due to a decline in domestic production caused by weak rains.
India dominates the global sugar scene as the largest producer, consumer, and second-largest exporter. Its sugar industry, ranking second in agro-based sectors, employs millions.
"Despite this, the industry faces competitiveness challenges, relying heavily on subsidies, free power, and water, leading many times to overproduction and market volatility. Water scarcity compounds issues, threatening industry sustainability," Srivastava said.
To thrive, the Indian sugar sector must aim to boost sugarcane yield from 55 to the global average of 70 tonnes per hectare, free from subsidies...
On the sugar sector, the report said that India is the world's largest sugar exporter after Brazil, but this year, it will import sugar in vast quantities as the sugar imports are estimated to grow steeply by 385.4 per cent, from USD 252 million in 2022 to USD 1,223.4 million in 2023.
Imports have increased in 2023 due to a decline in domestic production caused by weak rains.
India dominates the global sugar scene as the largest producer, consumer, and second-largest exporter. Its sugar industry, ranking second in agro-based sectors, employs millions.
"Despite this, the industry faces competitiveness challenges, relying heavily on subsidies, free power, and water, leading many times to overproduction and market volatility. Water scarcity compounds issues, threatening industry sustainability," Srivastava said.
To thrive, the Indian sugar sector must aim to boost sugarcane yield from 55 to the global average of 70 tonnes per hectare, free from subsidies...
Conference BLACK SEA GRAIN to take place on February 27-28 in picturesque Prague, Czech Republic.
Delegates from 24 countries already registered! Become part of the leading event in the world of agribusiness – join the epicenter of strategic connections, discussions and networking, shaping the future of the agri market.
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India’s wheat inventories are likely to remain above the buffer norm on April 1 despite the ongoing sale of the grain from state reserves, a senior government official said on Wednesday, which has brought down stocks to the lowest level in seven years.
The country’s wheat stocks at state warehouses have dropped to 16.47 million metric tons as of Jan. 1, Ashok Kumar Meena, chairman of the Food Corporation of India told reporters.
The Jan. 1 inventories are the lowest since 2017.
“The open market sale scheme (OMSS) has helped in stabilising prices,” said Meena, adding the government has sold 5.8 million tons of wheat to bulk buyers, such as flour millers and biscuit makers, since June 1.
Trades were speculating the OMSS would pull wheat stocks below 6 million tons when the new marketing year begins on April 1, against the norm of a buffer of 7.46 million tons.
However, Meena said that despite the OMSS, stocks will not fall below the buffer norm...
The country’s wheat stocks at state warehouses have dropped to 16.47 million metric tons as of Jan. 1, Ashok Kumar Meena, chairman of the Food Corporation of India told reporters.
The Jan. 1 inventories are the lowest since 2017.
“The open market sale scheme (OMSS) has helped in stabilising prices,” said Meena, adding the government has sold 5.8 million tons of wheat to bulk buyers, such as flour millers and biscuit makers, since June 1.
Trades were speculating the OMSS would pull wheat stocks below 6 million tons when the new marketing year begins on April 1, against the norm of a buffer of 7.46 million tons.
However, Meena said that despite the OMSS, stocks will not fall below the buffer norm...
The combat reports from Western navies operating in the Red Sea in recent days read like missives from a war zone — anti-ship missiles shot down, boats full of fighters sunk. But this conflict is playing out in one of the world’s busiest waterways and the knock-on disruption to global trade routes has the potential to reverberate around the globe.Attacks on commercial shipping by Yemen’s Houthi militants have spiked in recent weeks in the wake of the Israel-Hamas war, with dozens of cargo ships and fuel tankers targeted or delayed as a result of the fighting.While a U.S.-led coalition has been deployed to keep peace in the region, the impact of the burgeoning conflict is already being felt in a number of sectors. And, with Iran vowing to ensure its long-running efforts to pressure Israel continue, it’s likely the crisis has only just begun.Here’s what it means in practice.
Bad for businessThe Bab el-Mandeb strait, located between Djibouti and Yemen, has been the focal point for Houthi attacks on vessels. The narrow crossing marks the southern entrance to the Red Sea — a crucial waterway between Europe and Asia connecting to the Suez Canal...
Bad for businessThe Bab el-Mandeb strait, located between Djibouti and Yemen, has been the focal point for Houthi attacks on vessels. The narrow crossing marks the southern entrance to the Red Sea — a crucial waterway between Europe and Asia connecting to the Suez Canal...
12.01.2024
FAO Food Price index eased substantially in 2023
The FAO Food Price Index* (FFPI) stood at 118.5 points in December 2023, down 1.8 points (1.5 percent) from its November level, as decreases in the price indices for sugar, vegetable oils and meat more than offset increases in dairy products and cereals. The index stood 13.3 points (10.1 percent) below its corresponding level one year ago. For 2023 as a whole, the index recorded 124.0 points, 19.7 points (13.7 percent) lower than the average value in 2022.
» The FAO Cereal Price Index averaged 122.8 points in December, up 1.8 points (1.5 percent) from November, but still 24.4 points (16.6 percent) below its December 2022 value. After falling for four consecutive months, wheat export prices increased in December, supported by weather-related logistical disruptions in some major exporters and tensions in the Black Sea amidst solid demand. World maize prices also strengthened in December, underpinned by concerns about Brazil’s second crop plantings, and logistical constraints hindering shipments from Ukraine. Among other coarse grains, world prices of barley increased, while sorghum prices decreased slightly. In December, the FAO All Rice Price Index rose 1.6 percent above its November level. Indica quotations underpinned this increase, rising in response to purchases by some Asian buyers and reduced competition among exporters owing to India’s export restrictions and tight availabilities in Viet Nam. According to the rice index, international rice prices registered a 21 percent annual increase in 2023, largely owing to concerns about the impact of El Niño on rice production and in the aftermath of export restrictions imposed by India. For the year as a whole, the FAO Cereal Price Index stood at 130.9 points in 2023, down 23.8 points (15.4 percent) from the 2022 record annual average, reflecting well supplied global markets...
» The FAO Cereal Price Index averaged 122.8 points in December, up 1.8 points (1.5 percent) from November, but still 24.4 points (16.6 percent) below its December 2022 value. After falling for four consecutive months, wheat export prices increased in December, supported by weather-related logistical disruptions in some major exporters and tensions in the Black Sea amidst solid demand. World maize prices also strengthened in December, underpinned by concerns about Brazil’s second crop plantings, and logistical constraints hindering shipments from Ukraine. Among other coarse grains, world prices of barley increased, while sorghum prices decreased slightly. In December, the FAO All Rice Price Index rose 1.6 percent above its November level. Indica quotations underpinned this increase, rising in response to purchases by some Asian buyers and reduced competition among exporters owing to India’s export restrictions and tight availabilities in Viet Nam. According to the rice index, international rice prices registered a 21 percent annual increase in 2023, largely owing to concerns about the impact of El Niño on rice production and in the aftermath of export restrictions imposed by India. For the year as a whole, the FAO Cereal Price Index stood at 130.9 points in 2023, down 23.8 points (15.4 percent) from the 2022 record annual average, reflecting well supplied global markets...
11.01.2024
Rapeseed processing in the European Union shows record volumes again
In the fourth quarter of 2023, rapeseed processing in the EU amounted to 6.38 mln tonnes, which corresponds to the record figures of the same period last year – 6.41 mln tonnes. This was the estimate of production by Oil World.
The biggest increase in rapeseed processing was in:
Experts also noted that the total volumes of oilseeds processing in the EU in October-December 2023 amounted to 12.2 mln tonnes, which corresponds to the last year’s figures. However, in January-September, the EU countries showed the significant increase in processing, so the total amount of oilseeds processed in the EU was 48.2 mln tonnes, which exceeds both the result of 2022 (46.7 mln tonnes) and the average for the last 5 years (46.2 mln tonnes).
The biggest increase in rapeseed processing was in:
- Germany (+0.8 mln tons),
- The Netherlands (+0.2 mln tons),
- Czech Republic (+0.2 mln tons),
- Poland and France (+0.1 mln tons each).
Experts also noted that the total volumes of oilseeds processing in the EU in October-December 2023 amounted to 12.2 mln tonnes, which corresponds to the last year’s figures. However, in January-September, the EU countries showed the significant increase in processing, so the total amount of oilseeds processed in the EU was 48.2 mln tonnes, which exceeds both the result of 2022 (46.7 mln tonnes) and the average for the last 5 years (46.2 mln tonnes).
11.01.2024
Wheat prices in Chicago for the week decreased
CBOT wheat futures declined from December 29 to January 4. The market responded to improved winter wheat conditions in the US. Weekly minimum was 600.2 USc/bu, weekly declining was -18 USc.
More detailed information on the latest trends in grain exports, supply and demand balances with breakdown by crop, price behavior, crop conditions and progress in harvesting/planting in the countries of Black Sea Region is available to subscribers for Online Analytics “Black Sea Grain” in the new innovative tool for agri market participants – AgriSupp by UkrAgroConsult. Subscribe to a 7-day free trial!Start using analytical data and increase your efficiency now!Register to get your demo access: http://agrisupp.com/en/register/1.
More detailed information on the latest trends in grain exports, supply and demand balances with breakdown by crop, price behavior, crop conditions and progress in harvesting/planting in the countries of Black Sea Region is available to subscribers for Online Analytics “Black Sea Grain” in the new innovative tool for agri market participants – AgriSupp by UkrAgroConsult. Subscribe to a 7-day free trial!Start using analytical data and increase your efficiency now!Register to get your demo access: http://agrisupp.com/en/register/1.
11.01.2024
Stabilizing Kazakhstan's sunflower oil prices requires a surge in processing capacities – NOPA
In order to achieve stabilization of prices for sunflower oil in Kazakhstan this year, it is necessary to increase the utilization of processing capacities with raw materials. Today, the utilization rate of the existing capacities of oil production plants in the Republic of Kazakhstan does not exceed 40%, Yadykar Ibragimov, chairman of the National Oilseed Processors Association of Kazakhstan (NOPA), told APK-Inform.
“The workload of factories directly affects the cost of oil production: the higher it is, the lower the cost of the finished product,” the expert explained.
Another factor that will help maintain prices for sunflower oil within the country, as well as purchase oilseed raw materials at higher prices from farmers, is the sale of volumes of fat and oil products for export.As NOPA clarified, in 2022/23 MY, the export of sunflower oil from Kazakhstan increased by 76% compared to the previous season to 313.34 thsd tonnes. Uzbekistan remained the top importer, purchasing 40% of this volume, and China also became significantly more active, increasing its share from 25% to 38%. Another 16% of total sunflower oil exports were sent to Tajikistan...
“The workload of factories directly affects the cost of oil production: the higher it is, the lower the cost of the finished product,” the expert explained.
Another factor that will help maintain prices for sunflower oil within the country, as well as purchase oilseed raw materials at higher prices from farmers, is the sale of volumes of fat and oil products for export.As NOPA clarified, in 2022/23 MY, the export of sunflower oil from Kazakhstan increased by 76% compared to the previous season to 313.34 thsd tonnes. Uzbekistan remained the top importer, purchasing 40% of this volume, and China also became significantly more active, increasing its share from 25% to 38%. Another 16% of total sunflower oil exports were sent to Tajikistan...
11.01.2024
The needs of the Bulgarian processing industry will encourage farmers to sow oilseeds
Sunseed S&D
– Sunflower area in 2023 decreased (-6% by 2022) due to falling prices under pressure from large sunseed stocks caused by high imports from Ukraine;
– Yield – (-18%)
– Harvest – (-23%).
– In January, sunseed imports are expected to increase (+100 K mt) compared to the previous UkrAgroConsult forecast due to the lifting of import restrictions from Ukraine, which have been replaced by export licensing from Ukraine.
– Sunseed exports increased (+50 K mt).
– Sunseed crushing increased to the level of the previous season, sunflower oil exports – (+20 K mt).
-Due to increased crusher demand and reduced sunseed imports, the sunflower area is expected to increase.
Rapeseed S&D
– Winter oilseed rape area – (-31% by 2022, under-sowing due to low moisture reserves);
– Yield – (+10%, favourable overwintering conditions);
– Harvest – (-29%, significant reduction in area)
-In January, domestic processing is expected to increase (+50 K mt) due to the decrease in rapeseed exports (-50 K mt).
– Imports of rapeseed will be provided by the main suppliers – Moldova, Ukraine and Romania...
11.01.2024
MPOB forecasts increase in palm oil production in Malaysia in 2024
Malaysia’s palm oil production in 2024should reach 18.75 million tons on the back of improved working conditions, industry regulator Malaysian Palm Oil Board (MPOB) said on Thursday.
MPOB Director General Ahmad Parviz Ghulam Kadir told a seminar that the world’s second-largest producer’s stocks are expected to be around 1.95 million metric tons this year, down from 2.29 million tons in 2023.
Exports are expected to reach 15.6 million tons, up from 15.1 million tons last year, while the price of crude palm oil should range between 3,900-4,200 ringgit per ton, he said.
According to him, 2023 showed mixed results, while 2024 is expected to show better results with an improvement in most key indicators.
11.01.2024
Analysis and forecasts: the grain and elevator spheres
Past years have once again shown that guessing the future is ungrateful. But it’s interesting, so we asked knowledgeable people again, “What’s next?” So, which way will the Ukrainian grain sphere go in the coming years, will the problems with logistics ever disappear, what fate awaits commercial and farming elevators, will they be built, or is the market already saturated, – comments from the COO of G.R. Agro – Rempen Artem read in the material on the resource elevatorist.com
High yield and grain quality
Efforts must be made to maintain a consistently high yield. First, land reclamation needs to be developed, and this issue is already being raised at the state level. At G.R. Agro pays attention to climate change as a very important factor influencing yields, and not only in the traditionally arid southern regions.“In the coming years, climate change could be very significant. This will primarily push the development of the irrigation system in regions where previously it was not even thought of, as well as the revival of the irrigation system in regions where it was historically, “- said the operational director of G.R. Agro Artem Rempen.
Railway
Container transportation of grain will also develop in Ukraine, G.R.Agro predicts. According to Chief Operating Officer Artem Rempen, more and more elevators in Ukraine are preparing grain shipment points to be more competitive in the market.
High yield and grain quality
Efforts must be made to maintain a consistently high yield. First, land reclamation needs to be developed, and this issue is already being raised at the state level. At G.R. Agro pays attention to climate change as a very important factor influencing yields, and not only in the traditionally arid southern regions.“In the coming years, climate change could be very significant. This will primarily push the development of the irrigation system in regions where previously it was not even thought of, as well as the revival of the irrigation system in regions where it was historically, “- said the operational director of G.R. Agro Artem Rempen.
Railway
Container transportation of grain will also develop in Ukraine, G.R.Agro predicts. According to Chief Operating Officer Artem Rempen, more and more elevators in Ukraine are preparing grain shipment points to be more competitive in the market.
11.01.2024
The volume of rapeseed processing in the EU reached a record high
According to the estimates of Oil World, the volume of rapeseed processing in the European Union in the fourth quarter of 2023 reached a record 6.38 million tons, which is almost identical to the result of the same period of the previous year (6.41 million tons). In general, last year, the processing of oilseeds in Europe amounted to 24.4 million tons, which exceeds the results of the two previous years (22.58 and 22.81 million tons, respectively).
According to the analysts, the largest growth in oilseeds processing was recorded in Germany (+0.8 million tons), the Netherlands (+0.2 million tons), the Czech Republic (+0.2 million tons), as well as in Poland and France (+0.1 million tons each).
According to the experts, in October-December 2023, the volume of oilseeds processing in the European Union amounted to 12.2 mln tonnes, which is generally in line with the last year’s figure. However, taking into account the significant growth of this indicator in January-September, in 2023 the EU countries processed 48.2 mln tonnes of oilseeds, which exceeds the results of 2022 (46.7 mln tonnes) and the average for the last 5 years (46.2 mln tonnes).