Sunflower prices in Ukraine are increasing against the backdrop of increased export of seeds and processed products

Published 2022년 11월 23일

Tridge summary

Ships are facing delays as they attempt to enter Black Sea ports due to a surge in sunflower exports, leading to increased demand and higher prices. Despite a decrease in the export of sunflower seeds and meal due to a lack of supplies, Ukraine has seen a 9% increase in sunflower oil exports. However, the small sunflower crop this year, delayed harvesting, and missile attacks have not impacted purchase prices, which have remained around 410-435 $/t. Meanwhile, Egypt has purchased sunflower oil at a price 6.8% lower than earlier in November, indicating no expected growth in prices. The EU has reduced sunflower processing by 30-41% compared to October 2021, but has increased rapeseed processing by 4% due to high biodiesel demand.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The invigoration of ships entering the Black Sea ports and the pace of sunflower exports are forcing processors to step up purchases and raise prices, given the shortage of offers from farmers. The Joint Coordination Center reports that as of November 22, 76 ships are waiting for permission to enter the ports of Ukraine through the grain corridor (although at the beginning of the month there were 175), and another 33 loaded ships are being prepared for inspection in Turkish territorial waters before departure to their destinations. According to the Ministry of Agriculture, during the week, Ukraine increased the export of sunflower oil by 9% to 175.5 thousand tons, but decreased the export of seeds by 6.5% to 94.8 thousand tons and sunflower meal - by 67.5% to 46.99 thousand tons. t due to lack of supplies from manufacturers. In total, 1.36 million tons of sunflower oil and 770.7 thousand tons of seeds were exported in 2022/23 MR. Most factories are unable to process sunflower due ...

Source: Graintrade