Reduction of sunseed tariffs in Turkey will lead to lower sunflower oil prices in the Black Sea region

at supporting the Turkish vegetable oil sector and increasing the competitiveness of local producers. The duty reduction will also help stabilize domestic prices and increase import volumes, in particular from the Russian Federation. This government policy will stabilize or reduce sunflower oil prices in Turkey, increase the margins of processors, and strengthen the country’s position as a major importer of sunflower and crude oil, as well as an exporter of refined sunflower oil in the Black Sea-Mediterranean region. Demand prices for Russian sunflower oil for August delivery remain at a high level of $1,160-1,170/t FOB, but prices for September-October deliveries remain at $1,135-1,140/t FOB. Export demand prices for sunflower oil in Ukraine for delivery in August remain at maximum levels of $1,170-1,200/t, but prices for the new crop are also lower and are $1,150-1,160/t with delivery to Black Sea ports. In August, demand prices for sunflower oil delivered to India reached ...