Export prices for Ukrainian sunflower oil increased to a 4-month high, according to traders

Published 2021년 10월 22일

Tridge summary

Ukrainian crude sunflower oil export quotations have increased to a 4-month high, adding nearly $30 per ton in one day, reaching $1450 per ton FOB for November-December supplies. This surge is due to rising vegetable oil prices and limited sunflower supply. The harvest of sunflower in Ukraine is behind schedule by 12.4% compared to the same period last year, and farmers are delaying sales. The USDA has reduced its forecast for the sunflower harvest in Ukraine by 0.5 million tons to 17 million tons for 2021/22 MY, and also downgraded the estimates for sunflower meal and oil production.

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Original content

Against the background of a rapid rise in prices for other types of vegetable oils, export quotations for Ukrainian crude sunflower oil rose to a 4-month high, adding almost $ 30 per ton in one day. Refinitiv Agriculture writes about it in Telegram. It is noted that the prices for sunflower oil rushed to the level of $ 1450 per ton FOB for supplies in November-December, also supported by the limited supply of sunflower. “Prices of proposals for the supply of oil from Ukraine in November-December 2021 during October 20, 2021. reached $ 1430-1440 per ton FOB, but then, with the support of exchange quotations, rose to $ 1450-1460 per ton. Export prices for sunflower oil on the CPT basis reached the highest level since June 2021 at $ 1400 per ton for October-November delivery ”, - analysts say. According to the report, concerns about a reduction in the global supply of vegetable oils have supported the soybean complex. In addition, Malaysian palm oil futures rose more than 2% to a ...

Source: Oilworld