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Monday, 26 June 2017
Market Report

Market Report June 2017
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General Oils and Fats complex

Soybean Oil

In the last days, the weaker soy bean prices have also put oil prices under pressure, since the better weather conditions in the USA may result in a good harvest. Nevertheless, US anti-dumping tariffs on Argentinian and Indonesian biodiesel are still discussed, which could lead to higher oil prices. Moreover, Argentinian farmers are hesitating to sell at current quotes. The higher Indian demand is also supporting higher prices. It remains to be seen whether the US administration will announce further steps concerning climatic politics, which could have a direct or indirect effect on soy bean oil demand. Soybean oil prices will rather move sideward altogether.

Sunflower Oil


The sunflower oil markets are still unchanged. The prices are hardly moving. However several sellers are already sold out until the next harvest. For latter deliveries of the next harvest one also expects moderate surcharges. Therefore, there is already high demand for the latter dates, which could especially be interesting for the high oleic quality.

Rapeseed Oil

The rapeseed oil prices have been decreasing recently. This is due to the generally weaker vegetable oil market as well as the stronger Euro. The next harvest in the EU is still estimated at around 21 million tons, which is slightly higher than the previous (20.4 million tons). These price decreases led to several purchases in the last weeks. The current quotes are still uninteresting for the biodiesel sector. The market participants are worried about the Canadian sowing, which is still affected by the poor weather conditions.

Castor Oil


Monsoon in India has started. It is about one month earlier as expected. This is working against the speculators. Therefore prices stopped to increase the last two weeks. Also the stronger Euro has supported this situation. Nevertheless the castor harvest is now over. The last crop was small and these quantities have to be sufficient for the next 7 month. On the last ICOA meeting in Prague the Chinese Sebacic Acid producers announced a possible increase in demand of about 25% for this year. Our recommendation is to cover now Q3 2017, Q4 2017 and partially Q1 2018. We still see the danger of castor prices getting constantly firmer in the second half of the year.

Key products from the GUSTAV HEESS production in the USA

Almond Oil

The USDA released their 2017 California Almond Forecast in May and they predict a 2.2 billion pound crop this year. Bearing Acreage is still increasing with an estimated 1 million acres of almond trees.

Walnut Oil


The California Walnut board April shipment report shows that Walnut season is near the end. The predicted crop size is about 670,000 tons. Prices continue to stay stable and sustainable.

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Extra market report: macadamia nut oil


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