Ukraine Gate- Kyiv – April 20, 2022- Analysts of the stock exchange for grain trade stated that the blockade imposed on Ukrainian ports prevented the supply of sunflower oil to world markets.
June palm oil futures contracts on the Malaysian Stock Exchange on Monday also rose 2.7% to 6,463 ringgit / ton or $ 1,518 / ton, up 5.3% for the week, and the market did not react to the data on a reduction in palm oil exports from Malaysia during the period 1-15 April compared to the same period in March by 14-23%, as the resumption of the export of sunflower oil is not expected, and then the demand for palm oil will decrease.
Also, May futures for soybean oil on the Chicago Stock Exchange rose 1.5% on Monday to $1,767/ton, up 2.8% on the week.
There are also millions of tons of sunflower oil in Ukrainian ports, and six oil processing plants have resumed after all processing plants stopped after the war.
Now Ukraine is trying to export sunflower oil across the western border by cars and railways, but Europe is not ready to accept such quantities, as it has no terminals with the necessary capacity. On 14 days of April, Ukraine managed to export 24,000 tons of oil, which In peacetime, it is equivalent to daily production.
The order price of sunflower oil with delivery to Poland or Romania also decreased to 1500-1600 dollars / ton.
Notably, the prices of Russian sunflower oil delivered to Black Sea ports are also under pressure from sanctions, which complicates the calculations and increases the cost of freight. 1845-1880 dollars per ton, asking prices – to 1750-1785 dollars / ton.
The introduction of quotas on sunflower oil exports from Russia has slowed down their prices, so no further cuts should be expected.
It is also reported that Ukraine can get a new crop of 63 million tons of grain and oilseeds.
