Spain: Sunflower oil slows its price rise and returns to October levels

After reaching a historic peak in mid-November, crude sunflower oil prices in the main ports of the European Union have begun a rapid downward correction. The fall, which has already accumulated a decrease of 11%, places the price at levels similar to those recorded at the beginning of October. The change in trend, according to the analysis of the consultancy firm Areté, is due to several key factors. On the one hand, the competitiveness of alternative oils, such as soybean oil, has encouraged the change in consumption in a context of sustained price increases. On the other hand, the market has received a significantly high supply from Russia and Ukraine during the first three months of the campaign, something unexpected given the geopolitical situation and the lower than expected harvests. A determining factor has been the high level of sunflower seed crushing recorded between September and November, despite the disappointing harvests. This situation has generated a surplus in ...