Drought in the Black Sea region has become one of the main reasons for the increase in prices of vegetable oils.

Against the backdrop of drought, in almost all sunflower-producing regions of the Black Sea region, sunflower oil prices rose in July, according to a review by the federal center "Agroexport." High temperatures negatively affected the condition of oilseeds in southern regions of Russia, several areas of Ukraine, as well as in certain districts of Bulgaria, Romania, Hungary, and Turkey. Against this backdrop, sunflower oil prices increased by approximately $25-45 per ton over the month, depending on the origin, analysts specify. It was previously noted that at the end of the current season, weather will be a key factor in the formation of export prices for sunflower oil. Concerns about the lack of rainfall persist. "The harvest, although clearly higher than last year's, will not be as high as expected at the end of spring, especially in Turkey, Ukraine, and the Russian Federation, which further supports quotations," the review clarifies. Speaking of other factors that also ...