Purchase prices for sunflower in Ukraine increased by UAH 400-600/ton

Published Mar 25, 2024

Tridge summary

In Ukraine, the past week saw a notable increase in sunflower purchase prices, which rose by 400-600 UAH/t to 15,000-15,500 UAH/t, attributed to a 4% increase in sunflower oil prices and a nearly 2% rise in the dollar exchange rate over two weeks, as reported by the GrainTrade electronic grain exchange. This price surge was temporarily adjusted downwards following a decrease in the interbank dollar rate. Meanwhile, demand prices for sunflower oil climbed by $10/t to $855/t, although spot prices in Black Sea ports remained stable at $770-785/t. The export of sunflower oil from Ukraine significantly grew by 67% for the week of March 14-20, with a total of 3.6 million tons exported in the 2023/24 marketing year, amidst a global context of declining palm and soybean oil futures and an unexpected drop in Argentina's sunflower production forecast due to heavy rains, positioning sunflower oil as the most affordable option in the market.

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

Original content

Last week, the purchase prices of sunflower in Ukraine increased by 400-600 UAH/t to 15,000-15,500 UAH/t (including VAT) with delivery to the plant against the background of a 4% increase in sunflower oil prices, as well as a jump in the dollar exchange rate by almost 2 % for the last two weeks. This is reported by analysts of the GrainTrade electronic grain exchange. Many processors were paying a higher price for fast delivery, but at the end of the week they lowered their prices following the drop in the interbank dollar rate. Demand prices for sunflower oil with delivery to buyers for the week increased by $10/t to $855/t, but in Ukraine, spot prices in Black Sea ports remained at $770-785/t, while demand prices for sunflower meal in Black Sea ports ports increased by $5-10/t to $170-175/t. The export of sunflower oil from Ukraine for March 14-20 increased in comparison with the previous week by 67% to 178 thousand tons, and in general in 2023/24 MR reached 3.6 million tons ...

Source: Agrotimes