Sunflower Oil Market Report
Veg oil market remains under pressure with Trump imposing another 200 bln tariff on Chinese products. China too will retaliate and thus we are seeing panic selling in veg oils specially Bean oil. Palm too is not supported and once again the MDEX is down about 0.5%. Ukraine crop is looking fantastic and this is adding to pressure on new crop prices. Buyers for OND have reduced their buying ideas to 715 and we expect further correction downward. A rally in sunflower oil will be sold at every level. Old crop sunflower oil is not getting traded at all as bean oil continues to sell around USD 710 levels CIF India. Black Sea FOB is still kept unchanged for Aug / Sept with little or no buying support. If this continues we won’t be surprised to see a spread of USD 50/- between new crop and old crop sunflower oil prices. Indians are consuming their stocks intelligently and markets are still in big disparity. We at Athena feel that the prices of USD 770-775 for old crop and about USD 750 for New crop will find buying support and destinations likes India / Middle east and Europe will find buying support … till then Short covering and need base buying will keep the business alive.
- Palm oil Midday Market Close
- Bmd: 2202 (-2)
- H2205/L2176
- Vol : 34,750
- oln:
- Aug 572.5
- As 575
- Ond 580 vs 575 trd 575
- Jfm 597.5 vs 595
- Amj 610 vs 607.5 trd 605
- rbdpo: -2.5
- strn: Aug 570 (deld pg)
- pfad: Aug 485 (deld)
- Local cpo: Jul 2200
- Indon cpo:
- Aug 560
- Sep 562.5
- Ond 565
- laurics:
- cpko: Jul/Aug 208
- rbdpko: Jul/Aug 980
- rbdpkoln: Jul/Aug 880
- rbdpks: Jul/Aug 1110
- 6 ports Europe SFOa/s seller 775 v 760 ond 755 jfm 757.5 amj 770 jas 777.5 ond 777.5
- Black Sea sunflower oil FOB Aug 745 vs 730, Sept 740 vs 725 and OND 725 vs 715 buyers
- Russian sunflower oil offered USD 740 for near by
- CIf India offered at Aug : 795 , Sep : 787.5 , OND: 772
- Spain offered at USD 785 vs--
- Italy offered at USD 780 vs –
- Turkey offered at USD 775 vs 00
- Currency INR 68.60, Euro 1.1679, RM 4.04, and Rub 62.09