Decrease in sunflower oil prices stopped the growth of sunseed prices in Ukraine
Sunflower Seed
Ukraine
Market & Price Trends
Published Mar 26, 2024
Tridge summary
In Ukraine, last week saw a notable increase in the purchase prices for sunseed, driven by a rise in sunflower oil prices and a slight uptick in the dollar's value, although a subsequent fall in the dollar led to a minor adjustment in prices. Despite stable spot prices for sunflower oil in Ukraine's Black Sea ports, its demand price increased, alongside a modest rise in sunflower meal prices. Sunflower oil exports from Ukraine experienced a significant boost from the previous week. Internationally, the market showed mixed reactions, with declines in palm and soybean oil prices hinting at a potential price drop in April. Additionally, concerns have been raised about sunseed production in Argentina, where heavy rains are impacting crop yields, leading to varied forecasts on the sunflower crop output.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.
Original content
Last week, the purchase prices for sunseed in Ukraine increased by 400-600 UAH/t to 15000-15500 UAH/t (including VAT) with delivery to the plant amid a 4% increase in sunflower oil prices and a 2% jump in the dollar over the past two weeks. Many processors paid a higher price for fast delivery, but at the end of the week they reduced prices following the fall of the dollar on the interbank market. The Demand price of sunflower oil for delivery to buyers for the week increased by 10 $/t to 855 $/t, but in Ukraine spot prices in the ports of the black sea remained at 770-785 $/t, while the demand price of sunflower meal in the black sea ports increased by 5-10 $/t to 170-175 $/t. The Export of sunflower oil from Ukraine for 14-20 March increased compared to the previous week by 67% to 178 thousand tons, and in General in 2023/24 MG reached 3.6 million tons of the projected 6 million tons. The Demand price of Ukrainian sunseed for delivery to Bulgaria increased by only 5-10 $/t to ...
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