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Vegetable oil prices held at high levels as China shifted purchases away from US oilseed products toward other origins. Indonesia raised its crude palm oil export duty by $5 to $55 per tonne from June 1 to fund its B30 biodiesel mandate, while Malaysia cut its export duty to zero.
Chicago soybean oil traded near $608 per tonne and Ukrainian and Russian sunflower oil were quoted at $740-760 FOB.
Indonesia's higher export levy and biodiesel mandate tighten palm and soy oil supplies, supporting vegetable oil prices and lifting the cost of oil-based feed ingredients.
graintrade.com.ua2 jun 2020Na 842 eerdere opwaarts beleid-gebeurtenissen bewoog Sojaolie zich mediaan +0,2% over 5 sessies (52% hoger; middelste helft -1,6% tot +2,1%), en -0,5% over 20.
Na 548 eerdere opwaarts beleid-gebeurtenissen bewoog Palmolie zich mediaan +0,4% over 5 sessies (61% hoger; middelste helft -0,7% tot +2,1%), en +0,9% over 20.
Bewegingen van de benchmark van elke grondstof sinds de laatste slotkoers vóór de gebeurtenis. Historische waarden bundelen eerdere gebeurtenissen van hetzelfde soort; ze beschrijven wat er gebeurde, niet wat zal gebeuren. Geen beleggingsadvies.
Strong vegetable oil demand, China's shift away from US oilseed products, Malaysia's zero export duty and Indonesia's B30-funding duty increase all supported palm and vegetable oil prices at a high level.
Indonesia's $5 export duty hike from June 1 to fund B30 biodiesel, Malaysia's duty cut to zero and strong vegetable oil demand are bullish for palm prices, though the report is dated a day after the move.
