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Black Sea sunflower oil prices in Ukraine fell to a 2.5-year low

Updated Mar 17, 2023
Over the past two months, sunflower oil prices in the Black Sea region have fallen 15% to a 2.5-year low, weighed down by pessimism in vegetable oil markets and the banking crisis. The specialized portal "Grain Trade Ukraine" reports Agricensus monitoring shows that Ukrainian sunflower oil prices decreased in all delivery parameters. According to trade sources, yesterday CIF-Turkey quotes, for example, collapsed below the psychological threshold level of $1,000/t to $990/t for delivery in April, and CIF-Varna buyers' price fell to $980/t. Only $279.50/t FOB when exporting Ukrainian wheat to Egypt Meanwhile, over the two-month period, the "buy" price for spot crude sunflower oil orders at Ukrainian ports fell by $125/t to $900/t, the lowest level since October 2020. Analysts are of the opinion that Black Sea sunflower oil prices are under pressure from the downward trend in soybean and rapeseed oil prices. As for future price dynamics, the decline in quotations is expected to ...
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