12.11.2007

HAZELNUT KERNELS

Prices of Hazelnutkernels are increasing in Turkey with the quantities the TMO is buying out of the market. Today Hazelnut Kernels cost with 8.75 YTL/kg and an exchange rate of 1,75 YTL/Euro 5,00 Euros/kg. Per November 12th, 2007 TMO bought nearly 81.000 t of Hazelnut Kernels.

VEGETABLE OILS
General
Markets for vegetable oils are still under pressure. New all-time price highs have been established in all commodities. Soyoil prices have reached levels which have not seen since 1974. Palmoil Prices are in record levels. The USDA report published on Friday, 9th November 2007 did not bring any relief to the markets. Analysts expect the coming months to be still very tight. That futures would come due to profit taking under pressure can be expected, but this would be shortlived.
a) Crude Mineral Oil Prices remain at a very high level. Profit taking eases somehow the prices, but the situation remains tight. Devaluating US$ and falling stocks are increasing the interest in commodities to investments.
b) Bad news from the financial sector continue to influence the markets. Doubts that such news will be expected for the nearer future keeps the value of the US-Dollar falling.
c) The latest report from USDA showed no changes. The situation of oilseeds remain tight. Only wheat crop expectations have risen a bit. Argentina has increased export taxes on agricultural products. Soybeans will be taxed with 35% (previous: 27,5%), soya oil and meal with 32%(previous 24%), sunseed with 32% (23,5%), sunoil and sunmeal with 30%(20%), wheat with 28%(20%) and corn with 25%(20%).It is unclear wheather the increase in export taxes will be released by September 1st). As nearly 80% of the export volume for the coming season have been registrated it is expected that in order to avoid tax losses, the changes to be come effective by September 1st onwords.
d) It has been announced today that Pakistan will also reduce import taxes on Malaysian Palmoil products, other countries have also intentions to reduce import taxes to fight against inflation in their countries.
e) China and India are absorbing still higher quantities of oils and oilseeds.
f) The crises in the financial markets make investments in agricultural commodities attractive as these commodities are regarded to be saver.

Palm Oil
Interest on palmoil remain due to higher prices of soyoil and mineral oil at a very high level. Intentions of countries to reduce their import taxes keep the prices of palmoil firm. Futures eases from time to time due to profit taking, but the price trend is still increasing.

Coconut Oil and Palmkernel Oil
Short covering and increasing prices for soyoil and palmoil let also the prices of coconut and palmkernel oil increasing. Export and production figures for coconut oil from producing countries are still below preceding years.

Rapeseed Oil
Prices for Rapeseed Oil are still under the influence of still very high prices for sunoil.
Also prices for rapeseed remain firm due to the fact that nearly 15% of crops acreage have been lost in favour of wheat or due to unfavourable weather conditions in Europe.

Sun Oil
New export taxes from Argentina have caused uncertainty for sunoil from Argentina. Prices have risen in Argentina by nearly 20US-$/t on Friday. Depending on the situation if Argentina will impose higher taxes by September 1st, prices will rise further. Sellers are very reserved, buyers are shocked by these prices. Both sides are waiting as long as they could.
For nearer positions it can be said that heavy storms at the Black Sea ports have destroyed many loading stations also of sunoil. This caused that actually no offers are available from Black Sea Ports for nearer positions.

06.11.2007

General Prices of vegetable oils are still increasing. The markets are very tight. Due to the following facts it is not expected that prices will come down in the nearer to medium term. a) Prices for mineral oil reached record levels during last week. The weak Dollar and the very low stocks in the USA brought up the prices to nearly 96 US-$/Barrel. The weakness of the US-$ increases the prices of all commodities which are traded in this currency. b) As showed in the last report tightness of oilseeds will be much higher than anticipated. Usage is increasing but production of oilseed is decreasing. As a result, stocks will fall during the actual crop year. c) As prices of wheat reached also record levels, and stocks of wheat reached record lows, worldwide acreages are used for wheat. d) Export Tax uncertainties or export restrictions in exporting countries cause still nervousness both at sellers and buyers. e) Many countries reduce import taxes to fight against the inflation in the country f) China and India are absorbing still higher quantities of oils and oilseeds. g) The crises in the financial markets make investments in agricultural commodities attractive as these commodities are regarded to be saver. Palm Oil The tightness in oilseeds and oils keep also palmoil prices at a very high level. Export taxes in Indonesia on the one side and rumours that China and India will reduce import taxes, keep the demand for palm oil. Coconut Oil and Palmkernel Oil Driven by boosting soyoil, palmoil markets also the market for coconut- and palmkernel oil increase steadily. Very low stocks and the very slow production increase keep the prices firm. Short covering and the fact that consumers are not fully covered for 2008 lead to increasing prices. Rapeseed Oil Still very high prices for sun oil and its premium over rape oil keep the prices for rape oil at record highs. Also increasing mineral oil prices make rape oil competitive as fuel oil. The demand from the bio diesel industry is still existent. And rumours that many bio diesel producers are not covered keep the prices high. In addition to this conditions of growing in Europe for rapeseed are not satisfactory. Prices are also high due to still very high prices for rapeseed. Futures for rapeseed at the EuroNext have also reached record levels. The tightness in rapeseed supplies is also existent as demand has more risen than the increase in production. Sun Oil Demand for sunoil remain very high. Some countries have already reduced import taxes on vegetable oils (Russia, Turkey). Supplies for sunoil remain very tight. Stocks are also very low. This situation keep the prices high.

06.11.2007

General Prices of vegetable oils are still increasing. The markets are very tight. Due to the following facts it is not expected that prices will come down in the nearer to medium term. a) Prices for mineral oil reached record levels during last week. The weak Dollar and the very low stocks in the USA brought up the prices to nearly 96 US-$/Barrel. The weakness of the US-$ increases the prices of all commodities which are traded in this currency. b) As showed in the last report tightness of oilseeds will be much higher than anticipated. Usage is increasing but production of oilseed is decreasing. As a result, stocks will fall during the actual crop year. c) As prices of wheat reached also record levels, and stocks of wheat reached record lows, worldwide acreages are used for wheat. d) Export Tax uncertainties or export restrictions in exporting countries cause still nervousness both at sellers and buyers. e) Many countries reduce import taxes to fight against the inflation in the country f) China and India are absorbing still higher quantities of oils and oilseeds. g) The crises in the financial markets make investments in agricultural commodities attractive as these commodities are regarded to be saver. Palm Oil The tightness in oilseeds and oils keep also palmoil prices at a very high level. Export taxes in Indonesia on the one side and rumours that China and India will reduce import taxes, keep the demand for palm oil. Coconut Oil and Palmkernel Oil Driven by boosting soyoil, palmoil markets also the market for coconut- and palmkernel oil increase steadily. Very low stocks and the very slow production increase keep the prices firm. Short covering and the fact that consumers are not fully covered for 2008 lead to increasing prices. Rapeseed Oil Still very high prices for sun oil and its premium over rape oil keep the prices for rape oil at record highs. Also increasing mineral oil prices make rape oil competitive as fuel oil. The demand from the bio diesel industry is still existent. And rumours that many bio diesel producers are not covered keep the prices high. In addition to this conditions of growing in Europe for rapeseed are not satisfactory. Prices are also high due to still very high prices for rapeseed. Futures for rapeseed at the EuroNext have also reached record levels. The tightness in rapeseed supplies is also existent as demand has more risen than the increase in production. Sun Oil Demand for sunoil remain very high. Some countries have already reduced import taxes on vegetable oils (Russia, Turkey). Supplies for sunoil remain very tight. Stocks are also very low. This situation keep the prices high. .

30.10.2007 (2)

Kakao

Nach einer kontinuierlichen Korrektur ziehen die Preise wieder an. Dezember 2007 - Kontrakt Kakao kostet aktuell 973 GBP/t.

30.10.2007 (2)

30.10.2007

Haselnusskerne

Haselnusskerne kosten heute mit 8,60 YTL/kg und einem Wechselkurs von 1,69 YTL/Euro umgerechnet 5,09€/kg ex works Türkei.

29.12.2007

General

Markets for edible oils are further burning. Record prices have been reached at . The following facts influence the direction of the markets:

1) Rising Mineral Oil Prices to record levels keep the interest for vegetable oil at a high level. One Barrel cost at the moment 92,80 US-$/Barrel. The development can be seen in the chart below.
2) Supplies with oilseeds will remain very tight in the season 2007/2008. According to the latest USDA report world´s production of oilseeds will decrease by nearly 4%. In the same time usage of oilseeds will increase by nearly 3%. This means that shortage of oilseeds will occur in the medium term.
3) According to the latest USDA report world´s production of oils will increase by 3,71%. In the same time usage of oils will also increase by 3,8%. This situation will lead to a reduction of stocks.
4) Demand from China and India remain at a very high level. Regular purchases keep the prices very firm.
5) Very high prices for sunoil the prices of other oils to new records. Export Tax uncertainties or export restrictions in exporting countries cause still nervousness both at sellers and buyers


Palm Oil

Increasing Export figures, stable production results, keep the prices for palm oil at a very high level.
Boosted by increasing soyoil prices at the CBOT palm oil prices reached record highs. After Indonesia has increased the export taxes on palm products prices increased heavily on Friday. Rumours that China will reduce import taxes on soy- and palm oil keep the nervousness on the markets.
Despite the very high levels record trades are made in Kuala Lumpur which is an indication that short covering is being done heavily and closed today with limit up for January 2008 contract.

It is a fact that most consumers are not covered for 2008 in total.

Coconut Oil and Palmkernel Oil

Driven by boosting soyoil, palmoil markets also the market for coconut- and palmkernel oil increase steadily.
Very low stocks and the very slow production increase keep the prices firm.
Short covering and the fact that consumers are not fully covered for 2008 lead to increasing prices.

Rapeseed Oil

Still very high prices for sun oil and its premium over rape oil keep the prices for rape oil at record highs. Also increasing mineral oil prices make rape oil competitive as fuel oil. The demand from the bio diesel industry is still existent. And rumours that many bio diesel producers are not covered keep the prices high.
Prices are also high due to still very high prices for rapeseed. Futures for rapeseed at the EuroNext have also reached record levels. The tightness in rapeseed supplies is also existent as the demand have more risen than the increase in production.

Sun Oil

Sun Oil Prices came under pressure at the beginning of last week. Having reached 1200 US-$/t level buying interest occurred. Boosted by increasing soyoil prices, prices for sunoil were also supported. Sellers became reserved by the end of the week.
Expectations that Argentina has produces much less sunoil during last crop and very low stock levels there keep the prices firm.
Unfavourable weather conditions increased the acreages less than anticipated. Depending on the crop results in the northern hemisphere prices will remain firm