As we have stated in our previous sultana raisin reports, there was a significant loss of yield due to the mildew disease. The Ministry of Agriculture estimates that the yield, […]
Read more
Author: E. Jarvis
EU countries and Ukraine Will Meet to Solve the Grain Problem
A meeting of the Coordination Platform for the Export of Ukrainian Grain, consisting of Ukraine, five neighboring countries and other EU member states interested in solving the grain problem, will […]
Read more
China Imported More Than 5 Million Tonnes of Canola
China imported about 5.1 million tonnes of canola in the 2022/23 season, although back in January this year analysts of the US Department of Agriculture (USDA) claimed that the supply […]
Read more
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
New Weekly Losses on Grain Markets
European Grain Markets Despite the continued weakness of the euro, the Matif grain markets close another slow week in which, overall, almost nothing interesting happens As harvest progresses, the corn […]
Read more
Hazelnut Market: Cautious Farmers – Are Prices Still Rising?
After reaching the 100 TRY/kg mark for hazelnut kernels in shell last weekend, the market was stable during the week. Occasionally, we were told that the market even softened somewhat. […]
Read more
IGC Lowered the Forecast of Global Wheat Production
In the September report, International Grains Council – IGC analysts lowered the forecast of global wheat production in 2023/24 MY to 783.5 mln tonnes compared to 784.1 mln tonnes in […]
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://commodityboardcom.kinsta.cloud/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 […]
Read more
Grain Markets: Rally in MATIF Wheat
European Grain Markets The MATIF wheat front futures rallied yesterday and is back above the 20-day average. The session started strongly after news of a cargo ship hitting a sea […]
Read more
Positive Signals From Poland Regarding Imports of Ukrainian Agricultural Products
The three EU countries, which introduced national bans on the export of Ukrainian agricultural products, are ready to consider the mechanism of joint verification and approval of supplies proposed by […]
Read more