During the week, prices for palm and soybean oil fell by 2.9% and 5.4%, which increased pressure on prices of sunflower oil and seeds in Ukraine

After two days of growth, palm oil futures in Malaysia fell on forecasts of a recovery in production and a reduction in exports, as well as under pressure from lower prices for competing oils. The uncertainty in the markets is exacerbated by Trump’s announcement that he will impose duties on Canadian goods, including rapeseed oil, starting March 4, which will force sellers to look for new markets.

April futures for palm oil on the Bursa exchange yesterday fell by 2.2% to 4511 ringgit/t or 1016 $/t (-2.9% for the week).

Amid improving weather in South America, the March futures for soybean oil on the Chicago stock exchange during the week fell by 5.4% to 987 $/t (-0.9% for the month), losing the speculative growth of February.

On the Chinese stock exchange in Dalian, the most active contract for soybean oil yesterday rose by 0.91%, and palm oil CPO1 – fell by 1.09%.

At a conference held this week in Kuala Lumpur, analysts predicted a recovery in palm oil production in Malaysia and a reduction in demand from importers, which will lead to a drop in prices in the coming months.

According to the estimates of the surveyor Intertek Testing Services, Malaysia during February 1-25 reduced exports of palm oil products by 2.7% compared to the same period in January.

In Ukraine, prices for sunflower seeds and oil rose slightly this week, but yesterday they fell again amid falling prices in neighboring markets. Sunseed with an oil content of 52% fell by 500-1000 UAH/t to 27000-27500 UAH/t with delivery to the plant.

Processors note the increased sales of sunseed by farmers in February and expect further seasonal increase in supply.

Tags: prices, sunseed, palm oil, Ukraine, sunflower oil, soybean oil