Sunflower prices in Ukraine are rising, following vegetable oil prices

The increase in the price of palm oil supported the quotations of soybean and sunflower oil on the international markets and reflects the increase in the prices of sunflower seeds in Ukraine, the Electronic Grain Exchange of Ukraine commented. In the past two weeks, Malaysian palm oil futures rose 15 percent to $1,179/t, and Chicago soybean oil jumped 14.3 percent to $1,060/t. In Ukraine, sunflower oil prices within the weekly period rose by $20-30/t to $1130-1150/t FOB Black Sea ports. However, we must bear in mind that the drop in oil prices has not yet affected the prices of palm oil, 20-40% of which is used to make biodiesel. Analysts predict that in the future, low oil prices will reflect a significant decrease in vegetable oil prices. According to data from the Electronic Grain Exchange of Ukraine, buying prices for sunflower with oil content 50% increased during the week by a new 500-1000 Ukrainian hryvnias to 27,000-27,500 Ukrainian hryvnias (UAH) ex-factory. For oil ...