Sunflower prices in Russia fell for the first time since autumn last year

For the first time since the fall of last year, sunflower prices in Russia began to decline - last week in the European part of the country they dropped by 25 rubles, to 29 thousand rubles per ton (excluding VAT). Prior to this, prices have been growing continuously since November 2022, Prime writes, citing SovEcon data. The company's analysts believe that the decline in prices is due to a slowdown in purchases by oil refineries and expectations of a significant increase in supply: in recent months, Russian oil refineries have been actively purchasing sunflower due to favorable export conditions and the weakening of the ruble, which led to a record production of sunflower oil, analysts say. As a result, the average sunflower prices in the domestic market increased by 39% from November to February, to more than 29 thousand rubles per ton. But in recent weeks, oil export prices have begun to decline. According to SovEcon, in February they decreased from $1.16 thousand/ton to $1.12 ...