Reduction in soybean oil export in December
According to experts of Oil World, on the results of December 2016 shipments of soybean oil from four key exporting countries (United States, Argentina, Brazil, and Paraguay) increased to 758 compared to 672 kt in the same period a year earlier.
The main part of this volume shipped Argentina - 540(313) kt. At the same time, exports from Brazil fell to 74(175), from the United States - 110(146), Paraguay - to 34(38) kt.
The main importers of soybean oil in the specified month remained Asian countries increased their purchases of up to 511(469) kt. For example, Bangladesh has contracted 84(49)kt of the product, South Korea - 44(17), Malaysia - 35(0), China - 23(21) kt.
Imports of oil to the EU countries amounted to 33 kt, while in December 2015 deliveries in this area were not carried out. At the same time, shipments to Africa fell to 76 tons. In particular, Algeria and Egypt have purchased in the reporting month, respectively 20(26) and 22(25) kt of soybean oil, Morocco - 2(17).
Soybean oil market in January
According to revised data of analysts Oil World, in January2017, the global deliveries of soybean oil market of the four countries, the top exporters of this product decreased to 610 compared to 751 kt in the same month in 2016.
Reducing the total index were observed in Brazil and Argentina, the shipment of which amounted to 400(553) and 74(78) kt respectively. Also decreased exports from Paraguay - 36(44) kt. Thus, a key supplier of soybean oil to the world market in January were the US - 100(76) kt.
Soybean oil deliveries to Africa, Asia, and EU
At the same time, there is a significant decline in soybean oil deliveries to African countries that are purchased in the reporting month, only 21 against 105 kt of the products in January 2016. Specifically, in Algeria and Egypt was delivered 2 against 34 and 60 kt of oil, respectively, in January last year. Exports to Asian countries totaled 371(516) kt, in particular, sales to India and Bangladesh declined to 238(392) and 63(81) kt respectively. In turn, exports to China and Malaysia has increased to 17(4) and 32(14) kt.
At the same time, it should be noted increased demand for soybean oil from the EU countries, which are purchased in the reporting month 53 kt of the products, whereas in January 2016 deliveries in this area were not carried out.