Globoil-2017, Highlights: Thomas Mielke, CEO, Oil World Magazine.

Edible oil prices down in Oct-Dec on ample stocks. Global edible oil prices are likely to see a bearish trend in Oct-Dec due to ample supplies. Crude palm oil futures on Bursa Malaysia falling to or below 2,600 ringgit (about 39,770 rupees) per tonne in Oct-Dec. Currently, the November crude palm oil contract on the Bursa Malaysia is at 2,852 ringgits per tonne. A production surplus (of edible oils) in 2017-18 (Oct-Sep) result in a recovery of stocks and become bearish factor for oils. India 2017-18 palm oil import 9.7 million tonne, up 5%. India 2017-18 soyoil imports 3.6 million tonne, up 6%. India 2017-18 sunflower oil import 2.35 million tonne, up 9%. World edible oil prices probably bottomed out Jul. Indonesia ’17 palm oil output 36 million tonne, up 12%. Global ’16-17 sunflower oil export up 24% on year. Global ’16-17 sunflower oil export at 10.4 million tonne. World 2018 palm oil output 69.74 million tonne, up 4%. Indonesia 2018 palm oil output at 38.2 million tonne, up 6%. CPO futures at 2,600 ringgits/tonne by Oct-Dec. Malaysia 2018 palm oil output at 20.6 million tonne, up 27%. World 2017-18 veg oil output 224 million tonne, up 3%