Sunflower prices in Russia fell to a multi-month low

The wholesale price of sunflower seeds in Russia has fallen to the lowest level since November 2022. This is stated in the message of the company "Sovecon", which specializes in the study of agricultural markets. "The price of sunflower seeds dropped to 23,625 rubles per ton by March 22. This is the lowest level since November 2022," experts say. According to their data, the price reduction was preceded by a drop in demand for the crop from processors, as well as a seasonal deterioration in storage conditions. The main factor in the decline in the demand of processors for sunflower was the fall in export prices for sunflower oil. So, according to analysts, by March 22, FOB quotes (the seller fulfills his conditions when the cargo crosses the ship at the port of loading - TASS note) fell by $110 compared to last month, reaching $930 per ton. At the same time, agricultural producers continue to increase supply against the backdrop of seasonal warming and worsening storage conditions ...