Articles By Anna Platonova

Fastmarkets launched price assessments for AG-RSD-0005 rapeseed cpt crush plant and AG-RSD-0006 rapeseed cpt POC on Monday August 19, 2024.

Russia’s Subcommittee on Customs-Tariff and Non-Tariff Regulation, Protective Measures in Foreign Trade approved the extension of the current duties on sunflower seeds and soybeans, but canceled the ban on rapeseed, replacing it with a duty, and extended the duties on sunflower oil and sunflower meal, according to local media reports.

Ukraine’s export volumes of oilseeds and their processed products decreased in the week ended August 14, taking into account seasonal factors and lower offers from sellers, according to official data published on Thursday August 15.

Sunflower harvesting in the Black Sea countries has started earlier than usual, and the first cuts give reason to believe that the sunflower harvest will be poor and its quality low, market sources said.

The Russian Ministry of Agriculture has reduced the export duty on wheat and increased it on corn for the week of August 14-20, leaving the duty on barley unchanged, according to data from the official website published on Friday August 9.

The July sunflower crush in Ukraine fell by 10.0-10.5%, to the lowest level in the last nine months — but nevertheless exceeded expectations — because sunflower stocks were low and some plants stopped processing, while the rapeseed crush in the first month of the 2024/25 season was lower than expected due to high prices, market sources told Fastmarkets.

Ukrainian weekly rapeseed exports jumped in the first week of August, with soybean and sunflower meal exports also showing gains in the week ending August 7, while sunflower oil exports continued to decline, official data showed on Thursday August 8.

One of the plants of the Kernel company, based in Western Ukraine, was damaged by a Russian drone strike on the night of Wednesday August 7.

Egypt’s state importer bought 36,600 tonnes of sunflower oil in an international tender closed on Wednesday August 7 and skipped purchasing soybean oil in a separate tender due to high prices.

Egypt’s state buyer launched two new tenders on Tuesday August 6, seeking to secure October-November supplies of soybean and sunflower oil, sources told Fastmarkets.

To support local farmers amid rising inflation, the Turkish government, announced local quotas for sunflower seeds and sunflower oil, which will allow buyers of local products to benefit from a discount on import duties on the two, Turkey-based sources told Fastmarkets on Tuesday August 6.

Data released by EU vegetable oils and protein flour association Fediol on Monday July 22 showed oilseed processing volumes in the EU increased by just over 1% month on month in June.

Prices for old and new harvest sunflower oil in European and Black Sea ports are rising under the pressure of talks of a decrease in sunflower crop in the Black Sea region and the European Union in the 2024/25 season, while low sunflower stocks limit supply for July-August deliveries.

Egypt’s state buyer General Authority for Supply Commodities (GASC) purchased 20,000 tonnes of foreign sunflower oil and 28,000 tonnes of domestic soybean oil in a tender closed on Thursday July 18, sources told Fastmarkets.

The first volumes for the 2024/25 Ukrainian rapeseed harvest season were declared for export in the week leading up to July 17, official data published on Thursday July 18 showed, while exports of sunflower oil increased and sunflower meal and soybeans decreased.

The Black Sea sunflower harvest was estimated to have lost a little more than 2 million tonnes, an average of 6%, over the past three weeks with abnormally high temperatures putting pressure on the future crop, Fastmarkets heard on Wednesday July 17.

Egyptian state buyer General Authority of Supply Commodities (GASC) issued an international and local tender to buy vegetable oils for September delivery on Wednesday July 17, a market source told Fastmarkets.

The crush margin for processing Ukrainian rapeseed decreased by 65% compared with the previous season, according to market estimates, though the margin is still higher compared with the margin for sunflower processing despite rising prices for rapeseed and high competition, which has pushed crushers to revise downward their plans for rapeseed processing.

Ukrainian exports of sunflower oil, sunflower meal and soybeans fell in the week to Wednesday July 10, official data showed on Thursday July 11, with production volumes of processed products declining amid low sunflower stocks and the shutdown of a number of plants for preventive maintenance, in addition to seasonal factors.

The Ukrainian sunflower crush level in June fell by 36.36% at the midpoint from record crush volumes in May, and the July crush could fall to minimal levels leading to a shortage of sunflower oil offers, market sources told Fastmarkets.