# The high price of vegetable oil reduces the activity of buyers

> Ukrainian and Russian sunflower oil offers held near $770-780/t FOB for July-August delivery, but buyer activity was weak. Egypt's GASC cancelled a 40,000-tonne vegetable oil tender over high prices, while Malaysian palm oil futures recovered to 2,361 ringgit per tonne on Chinese demand.

- Date: 2020-06-18 · published 2020-06-18T12:00:00.000Z
- Category: market · region Black Sea · magnitude low
- Page: https://feedsoft.ai/events/52706-the-high-price-of-vegetable-oil-reduces-the-activity-of-buyers
- Commodities: [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Sunflower Meal](https://feedsoft.ai/c/SUNMEAL.md), [Soybean Oil](https://feedsoft.ai/c/SBO.md)

## Why it matters

High vegetable oil prices are curbing import demand, which could cap prices if buying stays weak, but firm palm oil and Chinese demand provide support for feed fat costs.

## Read by commodity

- SBO: neutral
- PALMOIL: bullish ▲
- SUNMEAL: bullish ▲

## Sources

- graintrade.com.ua: https://graintrade.com.ua/en/novosti/visoki-tcini-na-roslinni-olii-znizhuyut-aktivnist-pokuptciv.html

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.