We have seen a slight relax in the vegetable oil markets in recent days, which after reaching highs in many years, have suffered a price correction in most oils, with the exception of palm oil, being more accentuated in oils coconut and palm kernel. In many cases, as you can read in the report, the fundamentals indicate that the high price situation can for a while.
In parallel, Brent has continued to rise and the Euro has appreciated against the dollar.
In the attached table you can see the prices of the main oils and their variation in the last fortnight (from November 18 to December 4):
The forecasts for the 20/21 campaign indicate a deterioration in the stock / consumption ratio of the 4 main oils, being especially tense in the case of sunflower oil and soybean. Strategie Grains estimates a fall of more than 3.3 million tons in stocks at the end of the season of these 4 oils. The recent changes in import tariffs in India and export rates in Indonesia are also factors to take into account in the evolution of palm oil prices in the coming months.
In order to better understand these and other points, we invite you to download and continue reading the LIPSA market report that we attach below, where you can see:
1. Evolution of reference markets
2. Market balance
3. Palm oil
4. Lauric oils
5. Sunflower oil
6. Soybean oil
7. Rapeseed oil