Turkey: Crude sunflower oil price fell 30 percent, expected to reflect on shelves

Published 2022년 6월 29일

Tridge summary

The international market has seen a significant drop in crude sunflower oil prices, down by 30% in the past 20 days, from $2150 to $1500 per ton. This decline is primarily due to a decrease in demand. The price drop is anticipated to be mirrored in domestic markets as well, potentially leading to lower shelf prices for consumers. The decrease in prices is not limited to sunflower oil, as palm and soybean oil prices have also seen a decline. The decrease in prices is attributed to factors such as increased production capacity, Federal interest rate hikes, and the resumption of sunflower oil shipments from Ukraine.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

After rising to 2150 thousand dollars a ton of crude sunflower oil in the international market, there has been a rapid decline in prices recently due to the lack of demand. In the last 20 days, crude sunflower oil in the international market decreased by 30 percent to 1500 dollars. With the imports made at new prices, a decrease is expected in shelf prices in the domestic market. Crude sunflower oil prices, which increased first with the pandemic and then with the effect of the Russia-Ukraine war, started to decline. The price of crude sunflower oil, which rose to $ 2150 with the pandemic, which was $ 800 a ton in the international market, has entered a serious downward trend in recent weeks. In the international market, the ton decreased from $ 2150 to $ 1500. Noting that the prices in the international market decreased by 30 percent, the sector representatives noted that they expect the decrease in the price of sunflower oil to be reflected on the shelves once the contracts made ...

Source: Gidatarim