Market updates on vegetable oils with up-to-date price trends
Jun 12, 2024

Olive oil: record production despite export restrictions

IZMIR. Turkey is reckoning with a record olive oil production this year. Liftings of the current export ban could pave the way for a successful export season.
May 7, 2024

Olive oil: massive slump in exports

IZMIR. In order to promote exports of olive oil in smaller packaging units, Turkey restricted exports of large containers last summer. The Aegean Olive and Olive Oil Exporters Association (EZZİB) is taking stock of the situation.
Mar 20, 2024

Olive oil: export restrictions prompt supply glut

IZMIR. Turkey's export restrictions for olive oil failed to produce the desired effect, producers and traders are instead confronted with unpleasant consequences.
Jan 24, 2024

Olive oil: massive price increases expected

IZMIR. Prices for Turkish olives and olive oil have already tripled year-on-year, and market experts forecast further significant increases. The main reason for this is the decline in production in the growing countries.
Dec 14, 2023

Olive oil: prices have risen 14-fold

IZMIR. Declining production results and a high inflation rate are causing the price of Turkish olive oil to increase. There is no end in sight for the time being. Experts are also sceptical about the yield potential for the coming year.
Nov 15, 2023

Olive oil: price surge exceeds 250%

IZMIR. Tariş Olive and Olive Oil Association has finally anounced the purchasing price for 2023/2024. Production will sharply decline again in Turkey this year.
Oct 18, 2023

Olive oil: Turkey extends export ban

IZMIR. Turkey has extended the export ban for olive oil, which was initially set to expired on 31 October. Although the industry took a hit, the export of value-added products is highly attractive.
Sep 20, 2023

Olive oil: prices have doubled

IZMIR. Although Turkey's Ministry of Trade banned olive oil exports in the final quarter of 2022/2023, shipments range much higher than last year. Prices have, in addition, more than doubled.
Aug 7, 2023

Olive oil: shock for exporters in Turkey

IZMIR. Turkey's Ministry of Trade has issued a temporary export ban for olive oil to combat high prices in the domestic market. Although this has frequently happened in recent years, exporters have been taken by surprise this time round.
Jul 26, 2023

Olives: massive yield losses

ANKARA. Turkish olive growers expect their yields to be significantly lower this year than in 2022. At the same time, prices have already risen to a record high due to various factors.
Jun 5, 2023

Olives: time for payback

ANKARA. Turkey has invested a lot of time, effort and resources in cultivating olives in the past twenty years, which is now paying off. The country's olive and olive oil production is certainly generating high revenues.
Apr 19, 2023

Olives: Turkish oil exports up by more than 150%

ANKARA. Turkey has managed to work its way to the top of the world's producers of table olives. Experts are also pinning high hopes on the export of olive oil, which has already increased significantly in the first months of this year.
Nov 23, 2022

Olives: Turkey breaks all records

ANKARA. Turkey has succeeded in becoming the world's second largest olive oil producer after Spain and the leading produced for table olives. The country is on track to boost production and exports.
Company News
Sep 2, 2022

Oilseeds: food security issues

BRUSSELS. While lockdowns in China are slowing demand, some oilseed exports from Ukraine to the EU have picked up sharply since July. Much, however, remains to be done to improve exports from Ukraine, one idea that is being floated is a pipeline for vegetable oils.
May 18, 2021

Oilseeds daily: China's meat production is developing well

CHICAGO/HAMBURG. Market and price trends with trade assessments. China's meat supply is rising, but prices are declining. For rapeseed and canola, the market is doing a balancing act between the old and the new crop.
Apr 28, 2021

Oilseeds daily: soy complex declines significantly

CHICAGO/HAMBURG. Market and price trends with trade assessments. The oilseed market is very volatile, but with significant price corrections for the new crop. Sunflower oil decreases because it is too expensive.
Mar 31, 2021

Oilseeds daily: oil applies strong pressure

CHICAGO/HAMBURG. Market and price trends with trade assessments. The entire oilseed complex is coming under noticeable pressure, while Russia's export tax on sunflower seeds raises questions.
Mar 8, 2021

Oilseeds daily: crude oil pushes prices upwards

CHICAGO/HAMBURG. Market and price trends with trade assessments. The oilseed market is showing spectacular price increases.
Jan 19, 2021

Oilseeds daily: Brazil's logistics in focus

CHICAGO/HAMBURG. Market and price trends with trade assessments. The US soybean market starts with price losses. Brazil could provide some surprises before the end of January. Vegetable oils decline.
Oct 20, 2020

Oilseeds daily: rain to turn tables in Brazil

CHICAGO/HAMBURG. While much depends on exports for US soybeans, the rapeseed market is taking its cues from edible oils.
Sep 18, 2020

Oilseeds daily: export boom for US soybeans

CHICAGO/HAMBURG. Rumours over China have caused a stir in the soybean market. A turn in prices has been observed in Europe's rapeseed market.
Sep 10, 2020

Oilseeds daily: US soybeans drift high and delays in Canada

CHICAGO/HAMBURG. As the market is waiting for the new WASDE report to be issued on Friday soybean futures are trading higher in Chicago. Meanwhile. delays have been reported in Canada's canola harvest.
Aug 26, 2020

Oilseeds: Trump and Xi truce impacts soybean market

CHICAGO/HAMBURG. China and the US have agreed to push forward with the phase one deal amid soaring tensions. This has impacted US soybeans. Europe has, meanwhile, stepped up rapeseed imports.
Aug 24, 2020

Oilseeds daily: US soybean yields to range lower than expected

CHICAGO/HAMBURG. US soybean yields are to range lower than anticipated by the USDA and the Trump administration has refused to meet with China over the phase one deal. Oil mills in Europe will be confronted with a more limited supply of non-GMO rapeseed.
Jul 30, 2020

Oilseeds daily: Rabobank raises estimates for Brazil's soybean crop

CHICAGO/HAMBURG. Market and price trends with first estimates.
Jul 29, 2020

Oilseeds daily: new customs data from China

CHICAGO/HAMBURG. Market and price trends with first estimates.
Jul 17, 2020

Oilseeds daily: China steps up imports

CHICAGO/HAMBURG. While China is stepping up on soybean imports, concerns are being voiced in Europe over the quality of the rapeseed crop.
Jul 15, 2020

Oilseeds daily: surprising twist in prices

CHICAGO/HAMBURG. While political conflicts with China appear to be escalating, soybean shipments to the People's Republic have risen sharply in June. By contrast, rapeseed shipments to the EU are down and prices have taken a surprising turn in the physical market.
Jul 14, 2020

Oilseeds daily: prices for soymeal decline

CHICAGO/HAMBURG. Market and price trends with first estimates.
Jul 9, 2020

Oilseeds daily: Europe to import record rapeseed volumes

CHICAGO/HAMBURG. Uncertainty over China is growing in the US soybean market. Lithuania has notably stepped up rapeseed production and Europe is gearing up for record rapeseed imports.
Jul 6, 2020

Oilseeds daily: low supplies in Brazil

CHICAGO/HAMBURG. Market and price trends with first estimates of the trade, including additional information on the market situation in Ukraine and Canada.
Jun 29, 2020

Oilseeds daily: phase one deal dismissed as farce

CHICAGO/HAMBURG. John Bolton's scathing memoir on President Donald Trump vividly illustrates how egocentric Trump's approach to China is. Politcal experts uniformly agree that the phase one deal with China is a farce designed to boost voting for Trump in his electoral campaign. Market players are, meanwhile, puzzled by the persistently high prices for sunflower oil.
Jun 25, 2020

Soybeans: traders deride China's request for virus-free cargoes

HAMBURG/CHICAGO. Following closer inspections on frozen meat and fruit imports, customs officials in China are now demanding soybean exporters in the US, Brazil and Canada to provide documents guaranteeing that cargoes are free of Covid-19 contamination. The move has mainly sparked confusion in the market.
Jun 17, 2020

Oilseeds daily: controversies in Russia

HAMBURG/CHICAGO. While soybean futures have recently lost ground in Chicago and rapeseed futures in Paris, leaked documents reveal that Russia intends to triple export tariffs on sunflower seeds. Meanwhile, Trump's USD 1 trillion infrastrutuce plan weighs on the euro.
Jun 16, 2020

Rapeseed: rapeseed oil follows last year's traces

HAMBURG. The markets for canola and rapeseed developed slightly stronger. Support came from crude oil, as the Trump government plans to pump a massive infrastructure package of almost one billion US dollars into the US market by October, which also pulled crude oil up. It is interesting to compare rapeseed oil prices with last year.
Jun 15, 2020

Soybeans: export euphoria subsides

CHICAGO. In the USA, the trade was able to achieve quite acceptable export results to China in the last two weeks. Beijing also added to its exports of US soy imports today. However, Brazil's real is already showing signs of weakness again, which could put a strain on the competitiveness of US soybeans. Brazil's economy is suffering from extremely high new Covid-19 infections. The resurgence of new coronavirus cases in China and a weaker recovery of Chinese industrial production in May have again worsened the export prospects for soybeans.
Jun 4, 2020

Soybeans: US exports benefit from weak US dollar

CHICAGO. The US soybean market continued yesterday's price increase. US soybeans are cheaper than South American origins. China continued its shopping spree in the USA as well. Now it remains to be seen how the Hong Kong conflict between the US and China will affect Beijing's continued soybean demand in the US. Western European importers continue to benefit from the higher euro exchange rate.
May 25, 2020

Soybeans: Brazil expands Northern Arc

CHICAGO. The US soybean market was under the influence of political tensions between the USA and China, with the autonomy of Hong Kong at stake, which drove the dollar and crude oil exchange rate. In the US, stock exchanges will remain closed today due to the Memorial Day holiday. The Itaipu Dam was opened to raise the low water level of the Parana River. In Brazil, the expansion of the so-called Northern Arc is underway.
May 18, 2020

Soybeans: COFKO dampens import expectations

CHICAGO. The US soybean market gained some ground again. Good results in the NOPA report and the US soybean export control system provided a boost to the market. The market was also supported by the renewed increase in demand for pork. China's soybean warehouses appear to be filling up more and more, so that imports there could collapse somewhat over the summer months. Argentina has massive logistical problems due to low water levels on the Parana River.
May 13, 2020

WASDE report: wheat, corn, soy - all crops are increasing

WASHINGTON. The USDA announced the new forecasts for the old and upcoming world crops of wheat, corn and soybeans in the WASDE report.
May 12, 2020

Soybeans: growing concern over slaughterhouse closures

CHICAGO. The US soybean market continued to grow. China continues to buy US soybeans. The WASDE report is eagerly awaited as it provides initial estimates of the new crop. The area sown for the US soybean crop is likely to be expanded by up to 10%, according to retailers. In Germany, the price trend for pork also caused the animal feed sector to get a little out of control. Westfleisch in Coesfeld will remain closed for the time being due to Covid-19.
May 5, 2020

Soybeans: Brazil sets new export record

CHICAGO. On the US soybean market there is still great uncertainty about how strongly the corona crisis will restrict demand for animal feed. The Trump government is apparently planning new punitive tariffs for China.
Apr 22, 2020

Soybeans: slight upward price impulses

CHICAGO. The US soybean market surprised with higher quotations for beans, meal and oil. President Donald Trump wants to support the US oil industry with billions in government aid. China finally bought soybeans from the United States. First slaughterhouses reopen since closing two weeks ago. In Western Europe, softening pig prices could weigh on the soybean market.
Apr 14, 2020

Soybeans: US pork market under pressure

CHICAGO. The soybean markets went into reverse again. Pressure came from crude oil and a collapse in demand for pork in the USA. The 9.7 million barrel reduction in crude oil production decided by the OPEC Plus Group will not be sufficient to compensate for the collapse in demand caused by Covid-19. The introduction of quarantine, first in China and then in the USA, will reduce demand for pork in both countries, which will have a negative impact on soy demand.
Mar 31, 2020

Soybeans: South American municipalities tighten controls against the will of their governments

CHICAGO. Soybean markets were weaker in the USA and South America, but firm in Western Europe. Efforts are underway between the USA and Russia to jointly support the crashed crude oil market by cutting crude oil output by more than 20% in order to avert the threatened wave of US bankruptcies for shale oil producers. Argentina's and Brazil's municipalities have tightened border controls against the will of their governments because of the Covid-19 pandemic.
Mar 18, 2020

Soybeans: US government supports economy with USD 1 trillion

CHICAGO. The US soybean market took a breather after the Trump government plans to support the economy with USD 1 trillion. In the USA, fears that the covid-19 pandemic could paralyze the US healthcare system are boiling up because many US citizens do not have any health insurance. In both the US and Brazil, soybean exports plummeted in March due to the pandemic, which led to higher price demands from the local soybean meal trade.
Mar 9, 2020

Soybeans: Black Friday and Monday on world stock markets

CHICAGO. The US soybean market gave way to pressure from pandemic fears of the corona virus, heavy price losses on the stock and commodity exchanges, the failure of the OPEC Plus Conference in Vienna and a lack of soybean exports to China. The US leading index Dow Jones recorded the biggest price slide on the New York Stock Exchange in ten years.
Mar 6, 2020

Rapeseed: prices in France decline significantly

HAMBURG. The market for canola and rapeseed was burdened by price losses on soybeans and palm oil, which put pressure on prices in Winnipeg and Paris. The euro exchange rate, which rose to over 1.13 USD/EUR, led to a considerable downward price correction in France and Germany. With regard to the crude oil market, traders reckon that OPEC will decide on a cutback in crude oil production.