Global Vegetable Oils Market: How Rising Oil Prices Are Affecting Prices in Ukraine and Worldwide

Following a sharp increase in global crude oil prices, the vegetable oils market has received additional support. However, large global inventories, seasonal growth in production, and subdued demand continue to prevent prices from rising significantly. As a result, market participants are closely monitoring developments in the energy sector, weather conditions, and the progress of the new harvest.

Rising Crude Oil Prices Support Vegetable Oils

Higher crude oil prices traditionally strengthen the vegetable oils market, as these oils are widely used in biodiesel production. Rising energy prices improve the competitiveness of biofuels, thereby increasing demand for palm, soybean, rapeseed, and sunflower oils.

Sunflower prices in Ukraine remain stable despite expectations of record global production

Sunflower prices in Ukraine remain stable despite expectations of a record global increase in oilseed production in the 2026/27 marketing year.

According to the Electronic Grain Exchange, sunflower procurement prices (with 50% oil content) over the past week remained stable in the range of 32400–33500 UAH/ton. The market is supported by limited supply from producers, while the number of active buyers remains relatively low.

Prices for sunflower oil in Ukraine also remain steady at 1320–1325 USD/ton (DAP Black Sea ports).

Sunflower seeds have become unprofitable: Ukrainian oilseed processors switch to soybeans and rapeseed

The oilseed market is entering a phase of sharp restructuring

Ukrainian oil extraction plants (OEPs) are increasingly reducing or completely stopping sunflower seed processing.