Sunflower purchase prices in Ukraine reached UAH 25,000/ton

Published 2024년 10월 9일

Tridge summary

Sunflower purchase prices in Ukraine are experiencing a significant increase due to a decreased harvest and a shortage of offers from farmers. This price hike is also impacting the costs of sunflower oil and meal, though not as severely. Some processors have had to raise the purchase prices for sunflower with a 50% oil content to UAH 25,000/t in order to meet oil supply contracts. Despite these increases, farmers are still withholding sales in hopes of higher prices. Demand prices for sunflower oil and meal in Ukrainian ports have also risen, and the market may be further supported by increased demand from Turkey, as their sunflower production is expected to decrease in the next year.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Purchase prices for sunflower in Ukraine continue to rise rapidly against the backdrop of a reduced harvest and a lack of offers from farmers. At the same time, the prices of sunflower oil and meal are also increasing, but not as fast as for sunflower. This is reported by GrainTrade analysts. It is noted that this week, in order to fulfill oil supply contracts, some processors were forced to raise the purchase prices for sunflower with an oil content of 50% to UAH 25,000/t with delivery to the plant, although only a week ago they offered UAH 22,500-23,000/t for it. But farmers continue to hold back sales in anticipation of further price increases. During the week, demand prices 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 $210-220/t. Read also: Soybean market: prices in Ukraine are rising due to sales restraint by farmers Speculative oil price gains of 13% last week supported palm oil prices, but ...

Source: Agrobusiness