Farmers' restraint in selling sunflower seeds in anticipation of a better price will encourage processors to switch to soybean oil production — Ukroliyaprom

The increase in prices for sunflower seeds on the Ukrainian market, when prices have almost doubled compared to the beginning of the 2023/24 MY — from 13-14 thousand UAH/t to 25-26 thousand UAH/t (by $250), while prices for sunflower oil on the world market have increased by $130, is unjustified. This is reported by APK-Inform with reference to a statement by the Ukroliyaprom association. It is also noted that the policy of restraining sales of sunflower seeds by farmers in anticipation of higher prices will lead to the fact that multifunctional oil-extracting plants in Ukraine will reduce sunflower processing and increase soybean processing, which some are already doing. “Those Ukrainian farmers who are holding back the sale of sunflower should also take into account the trends of the world market, where no one considers sunflower as a separate crop that shapes prices,” the association’s statement says. As explained, the formation of prices on the world oil market is mainly ...