STATISTICS STATISTICAL NEWS Palm oil futures prices
CPO settlement prices (Malaysian ringitt)
MPOC/Bursa Malaysia
The palm oil market is hopeful of India resuming purchases after Muhyiddin Yassin was sworn in as the new prime minister on 1 March, Business Recorder writes. Former prime minister Mahathir Mohamad, whose criticisms about India have soured palm oil trade with the country, unexpectedly resigned on 24 February. The Malaysian palm oil market has been under pressure over lost sales to India and worries about falling global demand due to the novel coronavirus (COVID-19) spreading outside of China. The benchmark palm oil contract for May delivery on the Bursa Malaysia Derivatives Exchange rose 57 ringgit, or 2.41% on 4 February, to RM2,377 (US$565.41).
EU oilseed imports
EU rapeseed, soyabean imports (M tonnes)
UFOP, EU Commission
The EU-28 has imported around 8.7M tonnes of soyabeans in the 2019/20 season to date, down some 6% year-on-year, says UFOP. The USA supplied the largest share of imports, at 52%, since the marketing year began on 1 July 2019. This was also the case in the same period in 2017/18 but both the share and total amount were considerably bigger back then, at 79% and 7.1M tonnes respectively. The lower shipments in the current season are probably mainly due to the smaller US harvest (down 20% from the previous year). Ukraine is the top rapeseed supplier to the EU-28, at around 2.8M tonnes in the current season, becoming significantly more important as a country of origin for EU rapeseed imports.
Canadian oilseed stocks
Canadian oilseed stocks, end of 2019 (M tonnes) UFOP, Statistics Canada
Prices of selected oils (US$/tonne) Sept 19
Oct 19
Nov 19
Dec 19
Jan 20
Feb 20
Soyabean
746.8
753.8
748.5
826.1
857.3
772.8
Crude palm
578.2
615.1
692.2
772.5
801.6
718.7
Palm olein
541.4
573.1
648.8
720.0
728.3
656.7
Coconut
741.0
736.5
838.4
1,038.4
1,015.1
884.0
Rapeseed
881.7
888.4
872.4
918.8
935.3
870.3
Sunflower
751.2
720.3
758.9
803.9
841.4
762.7
Palm kernel
637.3
624.4
775.6
977.1
991.7
830.0
Average
697.0
702.0
762.0
865.0
882.0
785.0
Index
165.0
166.0
181.0
205.0
209.0
186.0
36 OFI – MARCH/APRIL 2020
Stats.indd 1
Mintec
Statistics Canada estimates the country’s total oilseed stocks at the end of 2019 at 18.5M tonnes. This is a 4% drop year-on-year but a 3.2% increase compared to the average over the past five years. Rapeseed – which accounts for just over three-quarters of Canadian oilseed stocks – showed a similar trend. Stocks at 14.3M tonnes represent a 2.4% decrease from the previous year, but also a 4.9% rise from the five-year average. Statistics Canada estimates soyabean stocks at the end of 2019 at 3.9M tonnes, down 9.4% year-on-year, but 2.7% up from the five-year mean.
Mintec provides independent insight and data to help companies make informed commercial decisions. Tel: +44 (0)1628 851313 E-mail: sales@mintecglobal.com Web: www.mintecglobal.com The Union for the Promotion of Oil and Protein Plants represents the interests of companies and associations involved in the production, processing and marketing of oil and protein plants in Germany
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19/03/2020 11:26:20
