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Oil and oilseeds outperform in 2020
December 23, 2020
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Rally in crude palm oil lifted prices of other edible oils such as mustard and soyabean
Domestic factors coupled with the sharp rally in international prices saw oilseeds and edible oils turn as top performing agri commodities in 2020.
Mustard seed, soybean, crude palm oil (CPO) and refined soya oil have outperformed all items in the agri commodity basket.
Global factors
Speaking to
BusinessLine, Biren Vakil of Paradigm Commodity Advisors, said that international developments influenced the oilseed prices. “Brazil and Argentina faced La Nina effect which hit their soyabean crop. Russia and Ukraine market had one of the bad sunflower crops in recent years. Europe faced drought which hurt mustard cultivation. So in the global market, there was a bull run in oilseeds including soybean, sunflower etc.”