New season sunflowerseed plantings to benefit from South East Asia drought. Vegetable oil prices have appreciated sizably on the back of increased palm oil prices. The drought in Indonesia is the worst in 20 years. Dry conditions for South East Asia may continue until end of December impacting negatively on oil production as plantations show severe moisture stress.
The previous week saw actual domestic beef prices as reported by The Red Meat Abattoir Association (RMMA) decrease due to lower demand during mid-month, while this week, the average forecast prices are expected to increase due to month end buying.
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