Russia records decline in sunflower oil export prices

Published 2024년 12월 19일

Tridge summary

Russian sunflower oil export prices have experienced a decline after peaking in November, falling to $1,100 per ton, which is a 10% correction from the high of $1,200 per ton, according to Mikhail Maltsev, executive director of the Oil and Fat Union of Russia. This decrease is attributed to a general drop in global prices for vegetable oils and lower than anticipated sunflower crop losses. The domestic market prices are expected to continue to decline due to increasing export duties, with the duty reaching over 9,000 rubles in December and projected to rise further in January and February.

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Original content

Export prices for sunflower oil from Russia have stabilized and are falling after the peak in November - at the beginning of December they were $1,100 per ton, Mikhail Maltsev, executive director of the Oil and Fat Union of Russia, told RIA Novosti. "Since the beginning of the season, we have seen an increase in export prices... But for several weeks now we have seen a market reversal and a price rollback. If at the peak, prices for sunflower oil reached $1,200, today prices have dropped to $1,100, which is almost a 10% correction. Now the situation on the external and internal markets has stabilized," Maltsev said. The indicated prices do not include the export duty. "At the same time, prices on the internal market will continue to move downwards, not upwards," the head of the Oil and Fat Union of Russia added. Among the factors stabilizing export prices for sunflower oil from Russia, Maltsev named the general correction of world prices for vegetable oils and smaller than ...

Source: Agrovesti