S&P Global Platts reported that demand for Brazilian soybean meal has shown some improvement after spot prices dropped close to 4-year lows while traders eye new sustainable regulations to be implemented by the European Union (EU) in December. Market participants linked the recent upward price movement to greater export interest, especially to Europe and slow domestic farm sales. EU buyers were said to be more active amid a favourable foreign exchange rate and in anticipation of the EUDR (EU Deforestation regulation), which goes into effect on 30 December.
Fastmarkets reported that major biofuel suppliers to the UK including the US, China, Indonesia and Malaysia appear to have significantly reduced their feedstock supplies this year, with the US having made no hydrogenated vegetable oil shipments so far in 2024E. Overall volumes have declined because of the delays in declarations of origins and types of fuel. This came amid increased scrutiny of some flows as well as concerns about a potential increase in fuels originating from China or the US. Total supplies of renewable fuel has dropped by 13% to 1.7bil litres so far in 2024E from 2.0bil litres for the corresponding period in 2023.
ChemAnalyst said that potassium chloride prices in the German market have remained fragile due to lacklustre consumer demand. In the upstream potash market, prices have maintained a steady position in most regions amid sluggish demand and lacklustre trading activity. In many South Asian markets, the focus was on digesting the recent potassium chloride contract settlements in China and India while the domestic Chinese market began to weaken and lose momentum. In China, expectations of increased supply of potassium chloride put downward pressure on port prices in the market.
Reuters reported that Ukraine has approved the final details of a new system of minimum export prices for the country’s key grains and oilseeds shipments. The government launched the plan to tackle price distortions linked to the war in Russia, which has seen an increase in domestic cash purchases of some agricultural products and their subsequent exports at artificially low prices to avoid taxes. In line with the new rules, minimum permissible export prices will be calculated on the basis of the state customs service data, taking into account the terms of delivery for the previous month and using a 10% discount.
Nation Thailand reported that Vietnamese rice has the highest export prices, distinguishing itself from key competitors including Thailand and Pakistan, whose prices have fallen. The price of 5% broken rice from Vietnam at US$575/tonne is US$14/tonne higher than that of the same type from Thailand and US$34/tonne higher than those from Pakistan. With limited supplies and countries accelerating imports to prepare for an anticipated drought next year, rice prices have been pushed up.
Be the first to like this. Showing 0 of 0 comments
Post a Comment
People who like this
Featured Posts
MQ Trader
Introducing MY's First IPO Fund for Sophisticated Investors!
MQ Chat
New Update. Discover investment communities that resonate with your ideas
MQ Trader
M & A Value Partners IPO Equity Fund has been launched - Targeted 13% Return p.a
Latest Videos
0:17
New IPO: Building management systems (BMS), solar thermal systems and energy-saving services provider, Solar District Cooling Bhd aims to list on the Ace Market!
MQ Trader 591 views | 3 d ago
0:17
New IPO: The onshore and offshore support services provider for the O&G industry, Steel Hawk Bhd aims to list on the Ace Market!
MQ Trader 13237 views | 12 d ago
0:17
New IPO: The largest mini-market player and a leading groceries retailer in Malaysia, 99 Speed Mart Retail Holdings Bhd aims to list on the Main Market!
This book is the result of the author's many years of experience and observation throughout his 26 years in the stockbroking industry. It was written for general public to learn to invest based on facts and not on fantasies or hearsay....