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Tuesday, 19 March 2019
Market Report


Market Report March 2019
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General Oils and Fats complex

Soybean Oil

InCosmetics

The soybean prices have been very volatile during the last days, especially the progress in the US / Chinese trade dispute led to severe price increases on the exchange stock in Chicago. China offered to rise imports of US agrarian products significantly. Additional demand comes from India as well as the biodiesel industry. Thus, firm prices are expected.

Sunflower Oil

The standard type (linoleic) is still available sufficiently and prices are attractive in comparison to rapeseed and soybean oil. Therefore, many consumers are covering their demand. The high oleic variety, however, is almost sold out for the old campaign. There are no offers for bigger quantities until October, only little quantities are getting into the market by resellers at a significant surcharge. The prices for the new crop are lower than the current spot prices, but are still seen as too high on part of the consumers in comparison to last year. However, one must consider that the demand increased considerably, but the processing capacities (refining) do not grow at the same pace.

Sunflower

Rapeseed Oil

Rapeseed

The rapeseed oil quotes were also supported by the trade dispute between the USA and China, since more rapeseed oil was expected to be exported to China (as replacement for US soybean oil). On the other hand, cheap soybean oil competed with rapeseed oil in other markets, so that the premium for soybean oil in Europe decreased. Especially, the later positions are traded at a more favorable price.

Castor Oil

Supplies will tighten in 2018/2019 and stocks of castorseed and oil will be depleted. World production of castorseed will fall to a 12-year low of 1.28 million tons this season (1.60 million tons last year). We expect prices to appreciate from current levels in the next 4 to 6 months.

Castor

Key products from the GUSTAV HEESS production in the USA

Almond Oil

Mandel

Shipments are up compared to last year due to strong exports to India. The strong exports have stabilized the prices. As promised in the last market report, the bloom is in full swing! Bud set was great in all areas of the state, the trees had plenty of chill hours and rain fall has been solid.

Walnut Oil

The quality of the varieties Chandler and Tulare continues to be solid and prices stay stable.

Pistachio Oil

The market prices for Pistachio kernels has seen a big increase due to increased demand.

Water Level

The valley is about 2” over the normal rainfall at this time of year. All reservoirs are well filled and most are even above the historical average. February has also led to a lot of snow in the Sierra range. Snow pack on the 30 January was 100% of average (measured for water content) and while the next official check isn’t until the end of February, it is forecasted to be 133% of normal.

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