Crisis reinforced the EU’s interest in palm oil

Over the past three months seen a significant decrease in the price of palm oil in international markets. According to data of the Dow Jones since the beginning of May 2009 until now the price of raw Malaysian palm oil (max. 5% FFA) in the Rotterdam market falls by 22-24 per cent to $ 647 / t CIF. Over the same period, the raw sunflower oil poevtinya the European market by 12-14% to $ 790-800 / t. Rapid decrease in the price of palm oil on the world and European market motivates increasing imports of this product in the EU. According to recently published statistics from the beginning of the 2008/09 season to date, imports of palm oil in the EU grew by 22 percent, compared with the same period of 2007/08 to a record 3.4 million Point Market participants comment that the sharp increase in imports associated with the development of biodizeloviya industry. That is why import of palm oil more marked increase in countries where production is being developed with the accelerated pace and, above all in Spain and Italy

––––––––––––––––– ––––––––––

Finance