Sunflower prices in Ukraine are rising against the backdrop of a low harvest, long rains, and rising rapeseed prices

Refined Sunflower Oil

Sunflower Seed

Ukraine

Published Sep 21, 2022

Tridge summary

Last week, rainfall continued in Ukraine, which delayed the harvesting of sunflowers. According to forecasts, the rains will continue for another 5-7 days, which will increase crop losses due to rot, especially in the western regions, where excessive rainfall began as early as August. As of September 15, 924 thousand tons of sunflower were threshed from 478 thousand hectares or 10% of the area in Ukraine with a yield of 1.93 tons/ha, while last year on this date 2.38 million tons of sunflower were harvested from 1.12 million hectares with a yield of 2.12 t/ha.

Original content

Compared to last year, the sunflower harvest will decrease from 17.5 to 9-10 million tons, which forces processors to intensify purchases in order to ensure stability of work during the season. Sunflower procurement prices rose last week to UAH 15,500-16,500/t or $425-450/t (compared with UAH 18,000-18,500/t or $670-685/t last week) after a slight drop, as the dollar gained 25 %, and processors do not include VAT reimbursement in the price. Demand prices for Ukrainian sunflower oil remain at $1,050/t FOB - Black Sea ports, although they reached $1,300/t FOB last year, while prices in Romanian and Russian ports are $1,200/t FOB. November palm oil futures on Bursa Malaysia rose 3.6% last week to 3,724 ringgit/t, or $828/t, after falling earlier, while December soybean oil futures in Chicago rose 1.9% up to $1,454/t. According to the Vegetable Oils Association of India (SEA), against the backdrop of lower prices for vegetable oils, in August compared to July, India doubled its import ...

Source: Agroconf