Palm oil stock prices fell by 4.1%

On Monday, oil prices fell by 3%, which led to a sharp drop in palm oil prices. However, the continued threat of a Russian military invasion of Ukraine and the resumption of rising prices for soybeans and soybean oil will soon turn palm oil prices up.

April palm oil futures on the Kuala Lumpur Stock Exchange fell 4.1% yesterday to 5,433 ringgit/t or.1,298/t on the back of lower oil prices and news of an increase in the reference price of palm oil in Malaysia in March to 5,277. 58 ringgit/t or 1 1,261/T, which will be 5.5% higher than the price of February, although the export duty on crude palm oil will remain at 8%. In addition, India raises the base import price for palm and soybean oil, which is used to calculate the import duty that the importer must pay. The increase in palm oil production in Malaysia in the first half of February also puts pressure on quotes.

March soybean oil futures on the Chicago Stock Exchange rose 2% to.1,473/ton yesterday, following soybean prices, which continue to rise in price amid another decline in production forecasts in South America.

March soybean futures rose 2.2% after recouping Monday’s drop.

Prices for Black Sea sunflower oil remain in the range of F 1385-1400/ton FOB. Customers do not risk buying products from the Black Sea region. At the tender in Egypt, a strange situation developed when sunflower oil was purchased for 1 100/ton cheaper than soybean oil, although usually a premium is offered for sunflower oil compared to soybean and palm oil.