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

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 ...