Sunflower oil in Ukraine will stop rising in price; how prices will change by the end of 2021

In August, sunflower oil began to fall in price. The decline in prices for this product in Ukraine occurred for the first time this year. The sunflower harvest in 2021 is quite successful, so a drop in prices is predicted in the future. The farmers reported that the volume of oil production in 2021 should amount to 14.2 million tons, which is 8.5% more than in 2020. Now the cost of sunflower oil in Ukraine averages 82.64 UAH / liter. The fall in prices is also associated with a decrease in demand for oil in foreign markets, where a new sunflower harvest is expected. Last year's harvest in producing countries was unsuccessful, which caused oil prices to rise 1.9 times. This year, the gross harvest of sunflower seeds is expected to grow in most producing countries, and therefore a decline in oil prices is not far off. The bad experience of the past year has forced farmers to increase the area of sunflower crops in their fields this spring. In addition, an increase in the supply of ...