Purchase price of sunseed in Ukraine reached 25000 UAH/t but further growth will limit the fall in oil and soybean oil prices

Purchase prices for sunseed in Ukraine continue to rise rapidly amid a shrinking harvest and a lack of offers from farmers. At the same time, prices for sunflower oil and meal are also rising, but not as fast as for sunflower. As of October 4, domestic farmers harvested 8 mln tonnes of sunflower from 3.9 mln ha or 78% of the area, with the yield of 2.05 t/ha, which is lower than last year. The total harvest may reach 11 mln tonnes (15.5 mln tonnes in MY 2023/24), which will be lower than forecast. This week, some processors to fulfill contracts for the supply of oil were forced to raise the purchase price of sunseed with an oil content of 50% to 25000 UAH/t with delivery to the plant, although a week ago they offered 22500-23000 UAH/t. But farmers continue to hold back sales in anticipation of further price increases. During the week, the demand price for sunflower oil in the ports of Ukraine increased by another 20-30 $/t to 1015-1025 $/t, and for sunflower meal – by 5-10 $/t to ...