Sunflower prices in Ukraine are rising following vegetable oil quotes and against the background of a sharp reduction in production in the EU

게시됨 2024년 11월 12일

Tridge 요약

Palm oil prices have surged by 15%, leading to an increase in soybean and sunflower oil prices, particularly in Ukraine where sunflower oil prices have risen by 5.5%. Despite falling oil prices, palm oil quotes remain stable due to its use in biodiesel production. However, future low oil prices could impact palm oil prices negatively. The high prices of high-oleic sunflower in Ukraine are due to limited supply. USDA experts maintain their sunflower production forecast for Ukraine at 12.5 million tons, despite only 9.7 million tons being harvested so far. Meanwhile, the European Commission has reduced its sunflower production forecast to 8.1 million tons, marking a 17% decrease from the 2023 harvest, the lowest since 2015.

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원본 콘텐츠

Rising prices for palm oil support quotes for soybean and sunflower oil, which leads to higher purchase prices for sunflower in Ukraine. In two weeks of speculative growth, Malaysian palm oil futures rose 15% to $1,179/t and Chicago soybean oil futures rose 14.3% to $1,060/t, while the average sunflower price, according to Trading Economics oil with delivery to customers increased by 5.5% to $1,350/t (+12% for the month). In Ukraine, the prices of sunflower oil in the Black Sea ports during the week increased by another 20-30 $/t to 1130-1150 $/t, while the prices of meal decreased by 3-5 $/t to 195-210 $/t on against the backdrop of falling corn prices. The drop in oil prices has not yet affected the quotation of palm oil, 20-40% of which is used for the production of biodiesel. However, in the future, low oil prices will lead to a significant drop in oil prices. January Brent oil futures fell 5.3% to $71.8/barrel in two sessions (+1.4% in two weeks). Purchase prices for ...

출처: Graintrade