Russia records decline in sunflower oil export prices

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 ...