On Sunday, October 1, 2023, eight vessels passed along the coast of Odesa. In the morning, 3 vessels with cargo left the ports of Pivdenny and Chornomorsk. Other vessels entered […]
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Category: Policy & Business News
Policy & Business Market News, Prices, Global Supply & Demand
Ongoing Efforts Between EU States and Ukraine Regarding Agricultural Imports
An agreement has not yet been reached between the EU states and Ukraine regarding agricultural imports. However, there are ongoing efforts to establish a mutually satisfactory arrangement in the near […]
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El Niño Will Negatively Impact Palm Oil Export Opportunities
Malaysian palm oil prices will be in the range of $790-960 per tonne until the middle of next year, according to industry analyst Dorab Mistri. He says the El Niño […]
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New Soybean Yield Record Exceeds 200 Bushels per Acre
Soybeans have tremendous yield potential, as Georgia farmer Alex Harrell proved. He harvested soybeans averaging 206.7997 bushels per acre from a 2.5-acre irrigated plot, shattering the previous world record of […]
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Record of Refined Sunflower Oil Exports From Ukraine
The export of refined sunflower oil from Ukraine amounted to about 535 thsd tonnes (+5% y-o-y) according to preliminary data from APK-Inform Agency, in 2022/23 MY,. This became the maximum […]
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The World Coffee Conference 2023 Gathers in India
The World Coffee Conference 2023, a four-day international coffee gathering in India, is set to bolster India’s standing in the global and domestic coffee markets. It promises to boost coffee […]
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Global Warming Will Hit Crop Yields in Australia
If no measures are taken to mitigate the impact of climate change, crop yields in Australia may be 4% lower than the current level by 2063, which in turn will […]
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Ukraine Offers Solutions for Exports to 5 Neighboring Countries
In accordance with the decision of the European Commission, Ukraine is introducing a procedure for verifying the export of 4 agricultural crops (wheat, rapeseed, corn and sunflower) to 5 neighboring […]
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Argentina Farmers Slow Wheat Sales
Sales of the upcoming wheat crop in Argentina are currently the slowest in seven years, reports Apkinform according to Reuters. Thus, according to the official estimates, as of September 13, the […]
Read more![Egyptian GASC Tender Overview The Egyptian state operator, GASC, conducted an international tender on February 22 for the procurement of vegetable oils, amidst a backdrop of declining global prices. The tender aimed at securing oils for delivery in April, with payment terms set at 180 or 270 days post the opening of the letter of credit. Price Movements Compared to the previous tender in January, offer prices for sunflower oil decreased, ranging from $957 to $985(€884-€909) per ton C&F with a 180-day payment window, and from $974 to $1010(€889-€932) per ton C&F with a 270-day payment window. Meanwhile, soybean oil offers increased slightly, with prices ranging from $1000 to $1050 (€923-€969) per ton C&F for 180-day payment terms, and from $1025 to $1075 (€946-€992)per ton C&F for 270-day payment terms. Tender Outcome Among the submitted offers, soybean oil from Green Suppliers at $1000 (€923)/t C&F and sunflower oil from ADM at $957 (€884)/t C&F emerged as the most competitive. GASC finalized the purchase of 60.25 thousand tons of sunflower oil with a 180-day payment term, priced at $920/t(€849) C&F, reflecting a $20/t (€18,47)increase compared to the January tender. Market Response Following the tender, prices of sunflower oil for immediate delivery experienced a slight decline to $815/t(€752), driven by heightened offers from Ukraine and Russia, alongside decreasing soybean and soybean oil prices. Ukraine notably increased its sunflower oil exports by 49% compared to the previous week, contributing to a significant portion of the global market supply. The recent tender by Egyptian GASC underscores the intricate interplay between global price trends and procurement strategies in the vegetable oil market. With prices fluctuating amidst shifting supply dynamics, stakeholders remain vigilant for further developments that could influence market conditions in the coming weeks. [cmb_chart ids=766] [cmb_chart ids=767] For improved website design , harvest information , statistics , please subscribe CMBroker [stc-subscribe] Egyptian Gasc Procures Sunflower Oil at Premium Amidst Global Price Shifts](https://commodity-board.com/wordpress/wp-content/uploads/2023/09/Egyptian-Gasc-Bought-Sunflower-Oil-10-Cheaper-Than-the-Previous-Tender-360x270.png)
Egyptian Gasc Bought Sunflower Oil 10% Cheaper Than the Previous Tender
On September 21, the Egyptian state operator GASC held international and local tenders for the purchase of 30,000 tons of soybean oil and 10,000 tons of sunflower oil with delivery […]
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