World Oilseed News 04.12.2014 Sunflower oil exports from Ukraine, the world’s top producer, have surged by almost 40 percent from last year after global demand increased and attractive prices spurred buying, Oil World said. Ukraine exported 1.316 million metric tons of sunflower oil from July through October, compared with 945,000 tons in the same period last year, the Hamburg-based researcher said in an e-mailed report. Increasing purchases were led by India, the world’s biggest importer, as well as the European Union and Iran, according to the report. The 2014-15 marketing year started July 1 for Ukraine. *** Indias rapeseed oil output could fall by a tenth in 2014/15 as farmers sowed the main winter oilseed crop on a smaller total area than the previous season because of poor soil moisture in the main growing areas, traders said. *** Blame Italian Olive Bugs for Year’s Dearth of Virgin Oil. Crop damage in Italy and a weak harvest from Spain mean global production in the season through September 2015 will be the smallest in 15 years, the International Olive Council said Dec. 2. At a time when global food costs are dropping, olive-oil prices are surging for Italian consumers mired in a three-year recession, as well as for major importers including the U.S., where consumption has tripled in the past two decades. Intermediate-quality virgin olive oil from Spain, an industry benchmark, may reach 3.20 euros ($3.96) a kilogram in the next two to three months, Bradley said, an increase of about 65 percent from this week. *** Indias vegetable oil import is likely to hit a new record this year at 12.3 million tonnes (mt) due to continuous rise in demand amid falling prices and lower output from domestic sources. At this level, however, vegetable oil import will rise 6% from 11.62 mt in the previous year. More information on oilseeds market can be found in UkrAgroConsult Newsletters and daily reports or through on-line access to the website. UkrAgroConsult based on data from businessweek, indiatimes, bloomberg, business-standard
Posted on: Thu, 04 Dec 2014 12:41:15 +0000
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