Rising prices for oil and meal support sunflower prices in Ukraine

Dry and warm weather in Ukraine accelerates sunflower harvesting, but reduces its yield potential. As of September 5, 1.39 million tons of sunflowers have already been harvested from 780.8 thousand hectares or 16% of the area with a yield of 1.78 tons/ha. Demand prices for sunflower oil with delivery to ports for the week increased by $10/t to $920-930/t, while at the Ukraine-Poland border prices fell to $910-915/t, although in August demand prices at the western borders exceeded those of the port. The increase in the supply of rapeseed oil in the EU significantly reduced the demand for Ukrainian oil from biodiesel producers, who actively imported it during the summer. Therefore, in August, the export of sunflower oil from Ukraine decreased by 48% compared to July to 227,000 tons, which was the lowest figure since June 2022. Sunflower meal export prices for delivery to ports during the week increased by $5/t to $190-195/t on the back of rising feed wheat and corn prices. But the ...