Sunseed prices in Ukraine are rising following vegetable oil prices and amid a sharp decline in EU production

Rise in prices for palm oil supports prices for soybean and sunflower oil, which leads to higher purchase prices for sunseed in Ukraine. For two weeks of speculative growth, palm oil futures in Malaysia rose by 15% to 1179 $/t, and soybean oil in Chicago – by 14.3% to 1060 $/t, while according to Trading Economics, the average price of sunflower oil for delivery to buyers increased by 5.5% to 1350 $/t (+12% per month). In Ukraine, the price of sunflower oil in the ports of the Black sea during the week increased by another 20-30 $/t to 1130-1150 $/t, while the price of meal decreased by 3-5 $/t to 195-210 $/t amid falling corn prices. Decline in oil prices has not yet affected the quotations 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 futures for Brent crude oil for two sessions fell by 5.3% to 71.8 $/barrel (+1.4% for two weeks). Purchase prices for sunflower ...