FLASH June 3
Palm Oil Prices Leading the Price Recovery
Palm oil was the price leader upward during the past two weeks. Price-supporting factors have been a pick-up in purchases from many importing countries as well as spillover strength from appreciating Brent and WTI prices .... But additinal strength may by limited...
One of the main problems on the demand side continues to be lack of competitiveness of palm oil as a feedstock for biodiesel production, illustrated by the widening of the price premium of palm oil in Rotterdam... Our revised estimates of world production of biodiesel in calendar year 2020 and the feedstocks likely to be used are currently being prepared for release in the OIL WORLD ANNUAL 2020.
FLASH June 2
European Olive Oil Prices Under Pressure
Olive oil prices have fallen to a 7-year low of EUR 2032 or US $ 2238 per Tonne on the Spanish market at the end of May....
Current expectations of a record production of pressed olive oil in 2020/21 contributed to the price pressure lately. Additional factors are to be seen in...
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The OIL WORLD ANNUAL is a unique encyclopedia of world forecasts and statistics for all major oilseeds, oils and fats as well as oilmeals. On more than 700 pages this comprehensive yearbook contains profound textual analyses, statistics and graphs for the latest five calendar years as well as for five Oct/Sept seasons. The ANNUAL also provides our first global supply and demand projections for oilseeds, oils/fats and oilmeals for the season 2020/21.
In a special price section the reader is informed about monthly and annual world market prices and price relationships of the individual oilseeds, oils and oilmeals. The major price-making factors are analysed and on this basis an assessment is given for the price prospects of the key commodities on the world market.
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WEEKLY May 29
Tight World Supplies Triggered Uptrend in Prices
A pronounced uptrend of the global trade volume, partly strong demand from crushers and relatively low production in key countries have resulted in generally tight supplies of groundnuts in 2019/20... China has turned from a net exporter to a large net importer of groundnuts this season owing to the insufficient domestic crop which has probably declined further to only around 11 Mn T (shelled). Chinese groundnut imports are seen reaching a record 740 Thd T in July/June 2019/20....
MONTHLY May 22
Chinese Soybean Purchases Are Reducing Brazilian Stocks
In Brazil a record portion of the soybean crop was already disposed of until mid-May this year. Brazilian farmers took advantage of the weak domestic currency. They already sold about 80% of this year’s production and made even advance sales of almost 30% of the soybean crop expected in early 2021....
World crushings of soybeans will fall short of expectations. Our new estimate of 304.7 Mn T is 1.9 Mn T below a month earlier and up only slightly by 1.3% from last season’s reduced level. We have made downward revisions for Argentina and Brazil in particular, but also for the European Union, China and a few other countries. Crush margins have deteriorated, partly due to reduced demand of soya oil (mainly in the biodiesel sector) as well as for soya meal.....
WEEKLY May 14
Rapeseed Crushings Forecast to Decline Further in 2020/21
The bearish sentiment in the EU rapeseed market – triggered by the severe reductions of rapeseed oil demand from EU biodiesel producers – may be short-lived. Assuming a normalisation of fuel usage in coming weeks and months in line with the lifting of the current restrictions to combat COVID-19, next season’s bullish supply fundamentals are likely to take over....
Sharply lower opening stocks and the prospective further downtrend in domestic production are likely to reduce EU rapeseed supplies by an estimated 0.9 Mn T to 18.1 Mn T at the start of the 2020/21 season....First OIL WORLD estimates for 2020/21 in the WEEKLY...
FISH OIL & MEAL
WEEKLY May 14
Large Peruvian Quota But Uncertain Production Outlook
Peruvian production prospects of fish oil & meal are likely to remain rather uncertain, torn between a better than initially expected catch quota and the late start of fishing as well as strict sanitary standards for the commercial fleet & processing industry....
A larger than expected catch quota of 2.4 Mn T will come into effect on May 13, reflecting the improved size of the anchovy resource...
--- World Market Prices in US-$/T ---
- 317 Je
- May 28
- Soya Meal, fob Arg
- May 28
- Soybeans U.S., cif Rotterdam
- 545 Je
- May 28
- Crude Palm Oil, fob Indo
- 1730 Je/Jy
- May 28
- Fish Meal (super-prime), fob Peru