Grains And Oilseeds News in Brief

On August 2017 India's government lowered the import tariff on palm oil and palm olein down to 2.17% and 1.67%.

The import duty on unrefined palm oil is increased by 1%. Following the adoption of these measures, growth in import is expected. Reduced bank interest rates in the country, appreciation of the national currency and lower prices of palm oil compared to soybeans have their impact on import as well.

Indian traders purchased 300,000 tonnes of Ukrainian milling wheat with protein content of 11.5%, for September to October shipment and at price of 210-217 USD / mt, C&F. Last year, wheat import to India reached 5 million tonnes. This season,  import of 2-3 million tonnes of wheat despite the record high crop is expected.

According to APK-Inform, during the first 10 months of 2016 - 2017, import of sunflower oil in China from the former USSR countries decreased by 5.5% to 615,000 tonnes. From Ukraine, 500,000 tonnes (-5%) were purchased, 96,300 tonnes (-21%) from Russia, 19,100 tonnes (9,100 tonnes) from Kazakhstan.

According to FranceAgriMer, as of July 31, 2017 the crop of common wheat in France was completed on 91% of the areas at 85% a year earlier. Campaign slows down due to rainfall. Harvest of spring barley is completed on 94% of the areas.

As of July, 2017 stocks of sunflower in Ukraine reached 1.274 million tonnes, which is 49.4% more than the previous year.

Jordan purchased 100,000 tonnes of milling wheat for December  1, 2017 – January 31, 2018 shipment.

According to FAS USDA forecast, in 2017, wheat vrop in Paraguay will drop to 850,000 tonnes from 1.28 million tonnes a year earlier. In 2016 – 2017 Paraguay ranks 15th in the world ranking of the major wheat exporters in the world with a result of 0.7 million tonnes. Usually wheat is exported to Brazil, but because of the its good qualities there is demand on the part of Chile, Vietnam, Egypt and others.