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Friday, 23 March 2018
Market Report

Market Report March 2018
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General Oils and Fats complex

Soybean Oil

The soybean crops in Argentina and Uruguay are going to be worse. At the moment, specialists estimate the Argentinian crop only at 42 million tons. Uruguay is only at 2.5 million tons. These are 20 % less than last year. Some meteorologists call the current drought the biggest one of the last 40 years in Argentina. Even the Argentinian government is thinking about intervening to help especially damaged farms which in the last years were always taxed. However, these decreases are partly compensated by an expected record harvest in Brazil. In total, the South American production is going to be about 10 % less than last year. Recently, in Europe the demand for soybean oil increased due to still attractive pricing. Moreover, the announcement of the Indian government to raise import duties for palm oil also increased the demand for soybean and sunflower oil.

Sunflower Oil


The Ukraine is still not reducing crushing and more and more oil is stored, which leads to higher supply day by day. The Russian crop is expected to be 1.3 million tons smaller than last year. Nonetheless, Russian exports are running at full capacity. Prices remain attractive. The high oleic sunflower oil is rather firm, since the bigger consumers still have to cover their demand.

Rapeseed Oil

The prices for European rapeseed oil were rather firm due to the increasing prices for agricultural commodities. The concern about the Argentinian soybean harvest plays a major role. The supply of rapeseed of the former crop is still good, which could lead to higher oil stocks, if crush is not reduced. However, the growing harvest must be observed precisely. If this took damage during the cold period 10 days ago, prices could be affected negatively. By today there are no impacts known, however.

Olive Oil

The long-desired precipitations in Andalusia have finally occurred and taken pressure from the olive oil prices. Especially, the prices for lampante and hence the refined oils have fallen. Superior qualities of extra virgin are remaining at a relatively high level, since the sensory quality is worse than last harvest; especially, the fruity character is missing. Organic oils are affected more negatively. Prices remain at the level of the previous year, since crop is smaller due to the lack of water in the last year. There are relatively scarce quantities available, which are very good in terms of sensory. The panels find several defects and a lack of fruitiness.


Key products from the GUSTAV HEESS production in the USA

Almond Oil


Bloom was right on schedule this year when the Central Valley faced some of the coldest weather it has seen in years. The temperatures reached as low as -6 °C. Low temperatures and frost will cause the nut to turn black and just fall off instead of growing into a mature almond. The cold temperatures also limit the bee flight hours. Buyers are aware of the potential loss of yield and prices for standard almonds have jumped 20 cents/lb this month. Luckily, later blooming varieties like Butte or Padre are not impacted. We will know more in April when the USDA will do a subjective crop estimate.

Walnut Oil

The demand is still high for shelled walnuts.

Pistachio Oil

Strong shipments again in January, prices remain very firm.

As PDF-file


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Jojoba oil

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Rice bran oil

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Palm kernel oil

Palm kernel oil (crude palm kernel oil...


Organic products

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Coconut oil

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