According to preliminary data from APK-Inform, Ukraine's export of refined sunseed oil in 2022/23 was 535,000 tons (+5% compared to 2021/22), marking the highest level in the last three seasons. In 2019/20, exports reached 666,000 tons.
According to data from CNGOIC, soybean stocks in China for the week of September 17-23 were 4.6 million tons, which is -5% compared to the previous week. Soybean processing during the week was 2.2 million tons (+5% compared to the previous year).
Chinese authorities have raised the minimum purchase price of Class 3 wheat in China to 323 USD/ton. It is expected that 37 million tons of wheat will be purchased at this price.
The Malaysian Palm Oil Board (MPOB) predicts an increase in palm oil production in Malaysia in 2024 due to the growth in the workforce following the COVID-19 pandemic and the rapid maturation of new plantations. The impact of El Niño is currently expected to be weak. Production in 2024 is projected to reach 19 million tons (+0.5% compared to 2023). Reserves will remain unchanged at 2.2 million tons, and exports will be 16.3 million tons (+0.6%).