At the beginning of the week, sunflower prices in Ukraine continued to decline. The main reason for this was the accumulation of sufficient raw material stocks by processing enterprises for the near future.
Read MoreOver the past week, Ukraine has seen an increase in sunflower prices. At the end of the week, purchase prices increased by 200–500 UAH/t.
According to APK-Inform, the cost of raw materials has almost returned to the level of the end of February, reaching 26,000–27,300 UAH/t (CPT). At the same time, processors remain cautious in adjusting prices.
Read MoreUkraine traditionally holds leading positions in the global sunflower oil market, and 2024 was no exception. During this period, agricultural exports reached pre-war levels, bringing the country $24.5 billion, which is 59% of total exports.
Read MoreThe rise in oil seed prices has become a significant challenge for the agricultural sector, but at the same time, the decline in processing margins threatens the stability of this industry.
Read MoreThe bulk sunflower oil market in Ukraine is one of the key ones for the country’s economy and agricultural sector.
Farmers are in no hurry to sell large volumes of oil crops, waiting for even higher prices. Refineries are already willing to pay for sunflower with a base oil content of 46% – $520-$525 excluding VAT with delivery, depending on tonnage. This is at least $10 more than last week’s price. Sunflower oil in the ports of Odesa increased by about $40 during the week compared to last week’s prices.
Read MoreThe shortage of sunflower on the Ukrainian market continues to stimulate price growth. The decrease in the production of this oil crop compared to last year leads to a lack of raw materials for Ukrainian factories. According to analysts, sunflower prices have already exceeded UAH 23,000/t, and according to forecasts, it may reach UAH 24,000–24,500/t by the end of October. This is due to the high demand for sunflower oil with a shortage of raw materials.
Read MoreAnalysts report that sunflower prices are kept at the level of UAH 20.5-21 thousand per ton, including VAT and delivery to factories. The price depends on the region of supply and the level of oiliness. The market is gradually filled with offers of sunflower, which contributes to the stabilization of prices.
Read MoreAccording to IA “APK-Inform”, in July 2024, the export of Ukrainian sunflower meal decreased to approximately 290 thousand tons, which is 28% less than in June, but 12% more compared to July 2023. This is the highest July indicator in the last 4 years.
In particular, supplies to China decreased by 16% to 179,000 tons, while exports to the European Union increased by 4% and reached 102,000 tons.
Read MoreThe demand for new-crop sunflower continues to grow, which is accompanied by news about the state of sown areas and another decrease in the forecast for the production of this oil crop in Ukraine in 2024. This was reported by APC-Inform, according to data published on agronews.ua.
Currently, preliminary prices for sunflowers of the 2024 harvest range from UAH 18,500 to UAH 20,000/t. However, processing companies are refraining from making specific proposals regarding purchase prices due to the current market volatility.
Read More
