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Morning round-up, Thursday March 26

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* Data from the Indonesia Palm Oil Association showed that the country’s January exports of the edible oil, including refined products, reached 2.39m tonnes.

 

This is down 32% from the 3.25m tonnes shipped in January 2019 and also lower than the 3.72m tonnes exported in December 2019.

 

The association blamed January’s drop in exports on high stocks of the oil in the main importing countries and coronavirus uncertainties.

 

 


* Ukrainian consultancy, APK-Inform said on Thursday that prices of milled wheat in the country have jumped over fears that coronavirus restrictions might lead to a shortage of the grain.

 

The consultancy said in a report that the price of milled 25% protein wheat increased by $7 per tonne since the beginning of the week to $207-$211 per tonne FOB for Black Sea. The 11.5% wheat is at $205-$209 per tonne.

 

 


* Reuters sources reported that some soybean crushers in China fear that the spread of coronavirus in exporting countries, like Brazil and Argentina, could lead to supply shortages at home.

 

A manager for a crushing plant told the news service that any delays “will be great trouble for us”.

 

According to Reuters, some crushers in the country have already begun lowering output due to a bean shortage caused by delayed shipments from Brazil in February.

 

 


* According to Fitch Solutions, global disruptions caused by the coronavirus outbreak could lead to an increase in food prices worldwide, especially in staples like grains, oilseeds, and meat.

 

 


* Canarana in Brazil’s Mato Grosso state, which implemented a coronavirus lockdown over the weekend, has decided to amend the order to allow commodity traders operating in the area, including Cargill, Louis Dreyfus and Cofco, to continue shipping grains from the city.

 

Canarana is the second farming town in Mato Grosso to enforce a coronavirus lockdown after Rondonópolis issued a similar order on Saturday.

 

 

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