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

게시됨 2024년 10월 22일

Tridge 요약

Sunflower prices in Ukraine have surged due to a limited supply and the necessity for factories to meet oil supply contracts, despite processors' efforts to reduce prices after a drop in vegetable oil prices. The harvest has been lower than expected, with 9.3 million tons collected from 91% of the area, leading to a reduced forecast of 10-10.5 million tons. Consequently, sunflower oil prices have increased to $1,050-1,060 per ton, enhancing refining margins. This price rise is influenced by a tender in Egypt and high palm oil prices in Malaysia, while soybean oil remains cheaper due to increased supply in the US and better conditions in Brazil. Meanwhile, Brent crude futures have declined due to reduced speculative activity, and India's demand is vital for supporting oil prices amid decreasing demand from China.

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원본 콘텐츠

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 ...

출처: Graintrade