Sunflower prices in Ukraine were supported by a decline in harvest forecasts in the Russian Federation

Published 2022년 12월 7일

Tridge summary

Russia's missile attacks have caused disruptions in Ukraine's infrastructure, impacting sunflower processing and transportation, leading to increased prices. Despite a low harvest, high sunflower prices are not reaching their maximum due to the focus on corn harvesting and reduced demand for sunflower oil. The low sunflower harvest in Ukraine and Russia is not yet impacting sunflower oil prices, as importers are opting for cheaper palm oil. India has increased its palm oil imports due to a decrease in prices, while sunflower oil and soybean imports have decreased.

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

Original content

This week, Russia continued intensive missile attacks on the civilian infrastructure of Ukraine, which led to disruptions in energy supply and the shutdown of many enterprises, including oil extraction plants. Interruptions in the work of the MEZs and unstable actions of ships to the ports of the Black Sea reduce the amount of sunflower processing, which does not allow prices to reach their maximum against the background of a low harvest. During the week, purchase prices for sunflower in Ukraine increased by 500-1000 UAH/t to 16000-17200 UAH/t or $440-470/t with delivery to the factory, but purchases are made by a small number of processors. Producers are currently busy harvesting corn, almost 35% of which is still in the fields, so there is no sunflower supply from them, which leads to higher prices. The export demand prices for sunflower for delivery to Romania, Hungary, Bulgaria decreased to $540-560/t against the background of falling rapeseed prices from €590-610/t to ...

Source: Graintrade