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Morning round-up, Tuesday March 10


* China’s Ministry of Agriculture and Rural Affairs said on Tuesday that it does not expect the coronavirus outbreak to have a big impact on soybean demand and that it plans to import more of the oilseed from the US in the coming year.


China last week granted tariff exemptions for a number US products, including soybeans, in a move to make good on its phase-one trade deal commitments.



* Malaysia’s Palm Oil Board said the country’s stockpiles of the edible oil dropped to 1.68m tonnes by the end of February.


This is down 4.2% from January.


February palm oil production was up 10% from January at 1.29m tonnes, while exports fell to a five-year low for the month to 1.082m tonnes (down 11% from January).



* Ukraine’s APK-Inform on Tuesday said shipments of sunflower oil from seaports reached 2.648m tonnes for the 2019-20 season so far, up 73% from the 1.524m tonnes recorded for the same period during the 2018-19 season.


Exports for the week February 29 – March 6 were at 90,000 tonnes, down from 118,000 tonnes the week before.



* APK-Inform also reported that Ukraine’s grain exports from sea ports reached 1.28m tonnes for the week February 29 – March 6, up from the previous week’s 977,000 tonnes.


Wheat exports for the week were at 424,000 tonnes and corn at 836,000 tonnes.


Grain exports have reached 41m tonnes so far for the season, up from 29.3m tonnes for the same period in 2018-19.



* Official data from the European Commission showed that the bloc’s soybean imports for the 2019-20 season, which started in July, had reached 9.50m tonnes by March 8.


This was down 5% compared to the imports recorded by March 3 in 2019.


Rapeseed imports for the period were at 4.33m tonnes, up 41% compared to a year ago.


Soymeal imports were at 12.30m tonnes, up 2%.


Palm oil imports were at 3.71m tonnes, down 17%.



* Data also showed EU soft wheat exports at 21.22m tonnes by March 8.


This is up 70% compared to the volume shipped by March 3 in 2019.


Barley exports were at 5.05m tonnes, up 60%.


Maize imports stood at 14.57m tonnes, down 13%.


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