Lower sunflower seed prices in the EU and Ukraine

Published 2023년 10월 11일

Tridge summary

Crude sunflower oil prices have stabilized and even increased in Rotterdam, reaching $900-910/t. The vegetable oil market is being supported by the rise in oil prices and increased export demand. However, the price of sunflower seed in Europe has continued to decline. Additionally, Bulgaria has introduced a ban on the import of Ukrainian sunflower until the end of November, affecting Ukrainian producers' hopes for increased exports. Sunflower exports from Ukraine in September 2023 were significantly lower compared to the same month in 2022.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Over the past few weeks, we have seen a stabilization and even a moderate increase in crude sunflower oil prices on the main representative market in Rotterdam - from $855-865/t to $900-910/t. Experts commented that the vegetable oil market in September was supported by the increase in the price of oil and the increased export demand for the oil in the world market after the prolonged decline. According to industry-leading German analyst publication OilWorld, “The build-up of stocks in key importing countries in recent months is a reaction to significant uncertainty looming in 2023/24 as El Niño conditions threaten oilseed production in Australia and elsewhere in the southern hemisphere…”. However, the price of sunflower seed on the European market continued to slide down – from EUR 425/t to EUR 390/t CPT St. Nazaire during the period 9 September - 9 October 2023 (EUR 675/t on 7-10.10.22). The Ministry of Economy and the Ministry of Agricultural Policy of Ukraine developed an ...

Source: Sinor