5 minute read
World statistical data
1.1 EVOLUTION OF REFERENCE MARKETS
14/12/2022 31/01/2022 Unidad Dif Dif %
Crude Palm Oil ( Apr) FOB MALASYA 4699 5628 MYR/ MT 929 19,8% Crude Palm Oil (Apr) CIF RDM 1182 1448 USD/ MT 266 22,5% CCNO Phil/Indo (Apr/May) CIF RDM 1630 2075 USD/ MT 445 27,3% CPKO (Apr/May) CIF RDM 1530 2300 USD/ MT 770 50,3% Crude Sunflower Oil (Abr/May/Jun) FOB 6 PORTS 1330 1510 USD/ MT 180 13,5% Crude Rape Oil (May/Jun/Jul) FOB DUTCH MILL 1414 1465 €/MT 51 3,6% Crude Soya Oil (May) FOB ARGENTINA 1133 1346 USD/ MT 213 18,8%
EUR/USD SPOT 1,1257 1,1233 -0,002 -0,2% USD/MYR SPOT 4,2300 4,1840 -0,046 -1,1%
Brent Crude SPOT 73,7 89,26 US $/ BRL 15,56 21,1% Gas Oils SPOT 642,25 796,25 US $/ MT 154,00 24,0%
Vegetable Oils Prices continue historically high. Low stocks and smaller than expected production of CPO in Southeast Asia. Palm oil exports regulation announced by local Government had a bullish impact. Global soybean stocks now seen declining in 2021/22 despite weak Chinese demand.
SOURCES : REUTERS / OIL WORLD
JAN - 2022 Global vegetable oil prices
MARKET REPORT Reuters/Oil World
Global rapeseed/canola area forecast (million hectares) Internati onal Grains Council
p = preliminary, e = esti mate World soyabean supply and demand (million tonnes) USDA/AMI
Prices of selected oils (US$/tonne)
Aug 21 Sept 21 Oct 21 Nov 21 Dec 21 Jan 22 Soyabean 1,389.9 1,364.6 1,485.9 1,387.7 1,383.1 1,421.8 Crude palm 1,118.4 1,173.1 1,303.5 1,327.1 1,265.0 1,320.1 Palm olein 1,069.2 1,144.9 1,224.8 1,234.7 1,147.4 1,223.3 Coconut 1,456.6 1,485.2 1,857.9 1,898.6 1,781.4 1,928.3 Rapeseed 1,425.2 1,505.1 1,745.5 1,696.8 1,729.9 1,773.7 Sunfl ower 1,297.7 1,313.6 1,412.5 1,412.4 1,385.5 1,390.8 Palm kernel 1,299.0 1,370.5 1,797.1 1,941.0 1,743.8 2,017.5 Average 1,294.0 1,337.0 1,543.0 1,558.0 1,491.0 1,582.0 Index 307.0 317.0 366.0 369.0 353.0 375.0
STATISTICAL NEWS
Vegetable oil prices rise sharply
Vegetable oil prices have conti nued 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 conti nue to break historical records. Key factors to follow ahead include producti on in Indonesia and Malaysia, weather, possible labour problems in Malaysia, palm’s discount against soyabean oil, ferti liser costs, import rates in India, and mandates for use in biodiesel.
The uncertainty over the confl ict between Russia and Ukraine, combined with the high prices of other vegetable oils, are supporti ng sunfl ower oil prices. For the new harvest, a signifi cant increase in planted area is expected.
Record rapeseed area forecast
The Internati onal Grains Council (IGC) has raised its global rapeseed area esti mate for the 2022/23 marketi ng 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 culti vati on increases in key rapeseed-producing countries, such as Canada and the EU-27. According to Agrarmarkt Informati ons-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 producti on revised downward
The US Department of Agriculture (USDA) has signifi cantly lowered its forecast for global soyabean supply and demand for 2021/22, UFOP reports. World producti on is forecast down 9.22M tonnes to 372.56M tonnes mainly due to conti nued 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.
Lipidos Santi aga (Lipsa), Spain, produces vegetable oils and fats for food, animal feed, technical and biofuel applicati ons
The Union for the Promoti on of Oil and Protein Plants represents companies and associati ons involved in the producti on, processing and marketi ng 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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