Export market for Soybean in India (12월, 2022)

On December 30, 2022, the Egyptian state-owned operator, GASC, successfully executed an international tender to procure a total of 42,000 tonnes of vegetable oil, including 30,000 tonnes of soybean oil and 12,000 tonnes of sunflower oil, at a cost significantly lower than the previous month. The soybean oil was sourced from LDC at $1,415/t C&F, and the sunflower oil was supplied by the Egyptian African company at $1,330/t C&F. This purchase follows a trend of decreasing prices for soybean and sunflower oil due to increased supply and lower palm oil prices. Furthermore, the article discusses the impact of China's relaxation of entry rules on palm oil demand, India's decision to extend a low import duty on refined palm oil, and Argentina's rainfall affecting speculative demand for soybeans and soybean oil. Additionally, it mentions the postponement of Indonesia's mandatory 35% oil-biodiesel fuel blending from January 1 to February 1, 2023, and a decrease in European buyers' demand for domestic sunflower, leading to lower prices.