Sunflower oil prices in the EU fell to a 3-year low

Abundant supplies of sunflower oil on the European market have sent prices at European ports falling to their lowest level in three and a half years and despite this keeping demand at rock bottom, while rapeseed oil prices have risen higher for the first time since February 2022 sunflower oil prices due to continued demand for biofuels, according to Agricensus. At the same time, soybean oil has lost value relative to other oils as soybean processing has increased in the region. Low productivity of Black Sea ports due to the conflict in Ukraine, the situation in the Red Sea and difficulties in operating alternative routes have led to large volumes of sunflower oil entering Europe at lower prices, putting pressure on the market. However, the availability of cheaper offers has not led to increased demand, market sources said, as the European market is flooded with sunflower oil. “Conceptually, it should be the other way around - a lower price increases demand, but there is no demand ...