STATISTICS 1.1 EVOLUTION OF REFERENCE MARKETS FOB MALASYA CIF RDM CIF RDM CIF RDM FOB 6 PORTS FOB DUTCH MILL FOB ARGENTINA
14/12/2022 4699 1182 1630 1530 1330 1414 1133
31/01/2022 5628 1448 2075 2300 1510 1465 1346
EUR/ USD USD/ MYR
SPOT SPOT
1,1257 4,2300
1,1233 4,1840
Brent Crude Gas Oils
SPOT SPOT
73,7 642,25
89,26 796,25
Unidad MYR/ MT USD/ MT USD/ MT USD/ MT USD/ MT €/MT USD/ MT
US $/ BRL US $/ MT
Dif 929 266 445 770 180 51 213
Dif % 19,8% 22,5% 27,3% 50,3% 13,5% 3,6% 18,8%
-0,002 -0,046
-0,2% -1,1%
15,56 154,00
21,1% 24,0%
Vegetable Oils Prices continue historically high. Low stocks and smaller than expected production of CPO in Southeast Asia. Palm oil exports regulation announced by local Government had a bullish impact. Global soybean stocks now seen declining in 2021/22 despite weak Chinese demand. SOURCES : REUTERS / OIL WORLD
Global vegetable oil prices
JAN - 2022
MARKET REPORT
STATISTICAL NEWS Vegetable oil prices rise sharply
Reuters/Oil World
Crude Palm Oil ( Apr) Crude Palm Oil (Apr) CCNO Phil/ Indo (Apr/ May) CPKO (Apr/ May) Crude Sunflower Oil (Abr/ May/ Jun) Crude Rape Oil (May/ Jun/ Jul) Crude Soya Oil (May)
Vegetable oil prices have continued their sharp rise since mid-December, with palm kernel oil (PKO) leading the way with a rise of more than 50%, according to Lipsa’s January market report. Palm oil prices continue to break historical records. Key factors to follow ahead include production in Indonesia and Malaysia, weather, possible labour problems in Malaysia, palm’s discount against soyabean oil, fertiliser costs, import rates in India, and mandates for use in biodiesel. The uncertainty over the conflict between Russia and Ukraine, combined with the high prices of other vegetable oils, are supporting sunflower oil prices. For the new harvest, a significant increase in planted area is expected.
International Grains Council
Record rapeseed area forecast
Global rapeseed/canola area forecast (million hectares)
The International Grains Council (IGC) has raised its global rapeseed area estimate for the 2022/23 marketing season to a record 40M ha due to price increases and buoyant demand in the current crop year, UFOP reports. This translates to a more than 2% rise on the current crop year. The IGC sees the largest cultivation increases in key rapeseed-producing countries, such as Canada and the EU-27. According to Agrarmarkt Informations-Gesellschaft (mbH), around 5.6M ha of rapeseed could be available for harvest in the EU in 2022, mainly due to expansions in France and Germany. The IGC also expects a 4% expansion in canola area in Canada to 9.4M ha.
Global soyabean production revised downward
USDA/AMI
The US Department of Agriculture (USDA) has significantly lowered its forecast for global soyabean supply and demand for 2021/22, UFOP reports. World production is forecast down 9.22M tonnes to 372.56M tonnes mainly due to continued dryness in South America. Global soyabean processing is projected to fall 2.02M tonnes to 325.72M tonnes. World trade is also revised downward to 170.74M tonnes, some 6M tonnes above the level recorded for the 2020/21 season. China is set to remain the world’s main soyabean importer with an unchanged import volume of 100M tonnes. p = preliminary, e = estimate World soyabean supply and demand (million tonnes)
Prices of selected oils (US$/tonne) Aug 21
Sept 21
Oct 21
Nov 21
Soyabean
1,389.9
1,364.6
1,485.9
Crude palm
1,118.4
1,173.1
1,303.5
Palm olein
1,069.2
1,144.9
Coconut
1,456.6
1,485.2
Rapeseed
1,425.2
Sunflower Palm kernel Average Index
Dec 21
Jan 22
1,387.7
1,383.1
1,421.8
1,327.1
1,265.0
1,320.1
1,224.8
1,234.7
1,147.4
1,223.3
1,857.9
1,898.6
1,781.4
1,928.3
1,505.1
1,745.5
1,696.8
1,729.9
1,773.7
1,297.7
1,313.6
1,412.5
1,412.4
1,385.5
1,390.8
1,299.0
1,370.5
1,797.1
1,941.0
1,743.8
2,017.5
1,294.0
1,337.0
1,543.0
1,558.0
1,491.0
1,582.0
307.0
317.0
366.0
369.0
353.0
375.0
32 OFI – FEBRUARY 2022
Stats fEB 2022.indd 1
Lipidos Santiaga (Lipsa), Spain, produces vegetable oils and fats for food, animal feed, technical and biofuel applications The Union for the Promotion of Oil and Protein Plants represents companies and associations involved in the production, processing and marketing of oil and protein plants in Germany
Mintec provides independent insight and data to help companies make informed commercial decisions. Tel: +44 (0)1628 851313 E-mail: sales@mintecglobal.com Website: www.mintecglobal.com
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09/02/2022 14:05:14
