December palm oil futures on Bursa Malaysia yesterday fell 1.7% to a 3-month low of 3,657 ringgit/t or $780/t (-2.3% for the week) after Dalian soybean oil contracts fell by 3.4%, and palm oil contracts fell by 1.7%.
December soybean oil futures in Chicago were down 5.6% for the week at $1,286/t (-6.2% for the month), while asking prices for sunflower oil for delivery to buyers during the week fell from $870 to $835/t.
The Russian Federation is increasing supplies of sunflower oil to markets traditional for Ukraine. In August, oil exports from the Russian Federation increased 12 times compared to August 2022, from 25.3 to 301.5 thousand tons, of which 149 thousand tons were delivered to India, 49 thousand tons to China, and 39 thousand tons to Turkey.
