Ukraine: Processors are trying to reduce sunflower prices but hindered by the rising price of sunflower oil

Last week, sunflower prices in Ukraine rose to 25,500-26,200 hryvnias/t with delivery to the factory against the background of limited supply and the need for factories to fulfill oil supply contracts. From Monday, processors tried to lower prices to 24,500-25,000 hryvnias/ton following the drop in prices for vegetable oils, caused by an 8% drop in oil prices for the week. But the lower-than-expected harvest is forcing processors to keep prices high, especially when buying large lots. As of October 18, 9.3 million tons of sunflower were threshed from 4.5 million hectares or 91% of the area in Ukraine with a yield of 2.07 tons/ha, so the harvest forecast was reduced to 10-10.5 million tons, although the USDA estimates it in 12.5 million tons. Rising sunflower oil prices are keeping sunflower prices high and helping to boost refining margins. During the week, sunflower oil prices rose by another $20-30/t to $1,050-1,060/t, and meal - by $5/t to $220-225/t with delivery to Black Sea ...