Sunflower Oil Market Report

Good Morning

 

Once  again a very happy new year to everyone. May 2019 brings lots of positives and help you all grow as a person.

 

Veg oil markets are firming up with help from Palm oil. India reduced duty on palm oil and there are rumours that we may see similar action in soft oils as well , mean time sellers in domestic markets have firmed up their offers . Bean oil saw good trades today at JNPT and we also saw business in local sunflower oil for the ports like Kandla JNPT and Chennai.  There is demand for SPOT cargo in Chennai and Kakinada with limited sunflower oil sellers . Most of the traders will be back only by Monday and only than we can expect more clarity about the market.

 

SPPOMA: 1-31th Dec 18

Overall Summary :

Yield : -4.15%

OER  : +0.14%

Prod : -3.41%

 

SPPOMA 1-25th Dec est:

Yield : -6.39%

OER  : +0.21%

Prod : -5.28%

 

SPPOMA 1-20th Dec est:

FFB : -3.08%

OER  : +0.27%

Prod : -1.66%

 

SPPOMA 1-15th Dec est:

FFB -3.57%

OER +0.46%

Prodn -1.15%

 

SPPOMA 1-10th Dec est:

FFB -3.54%

OER +0.58%

Prodn -0.49%

 

SPPOMA 1-5th Dec est:

FFB -3.44%

OER +0.52%

Prodn -0.71%

 

-India cuts import tax on CPO to 40 pct from 44 pct earlier

-Refined palm to be taxed at 50 pct vs 54 pct earlier

-Malaysian refined palm oil to attract 45 pct import tax

 

• Palm oilMarket Close
• Bmd: 2164 (+43)
• H2171/L2132
• Vol: 32,672
•  
• Oln:
• Jan 520/?
• Feb 540/37.5
• Fm 545/42.5
• Amj 565 vs 560 trd 560
• Jas 565 vs 560
• Ond 567.5
•  
• Rbdpo: -5
•  
• Strn: Jan 502.5 (deld pg)
• Pfad: Jan 355 (deld)
•  
• Local cpo: Jan 2070
•  
• Indon cpo:
• Feb 507.5
• Mar 517.5
•  
• Laurics:
• Cpko: Jan 191
• Rbdpko: Jan 880
• Rbdpkoln: Jan 760
• Rbdpks: Jan 1050
• 6 ports Europe – thin market no firm start at the moment
• Black Sea sunflower oil seller jan 640 fm 635 amj 635 and  Buyer fm amj 627.50
• Russian sunflower oil offered near by 630
• Spain offered at USD 685
• Italy offered at USD 680
• CIF India Jan 700, Feb 695, March 692.50 and AMJ 692.50 indicatively
• Turkey offered at USD 680 for March
• Currency INR 70.04, RM 4.13, Rub 69.59, and Euro 1.1433