Sunseed prices in Ukraine fall amid seasonal increase in supply

The seasonal increase in sunflower oil supplies from Argentina and Russia is putting pressure on the prices of Ukrainian sunflower oil, which has led to a decrease in purchase prices for sunseed. Argentina harvested a record 4.7 million tons of sunseed this year, so Indian buyers have increased their imports of Argentine sunflower oil. At the same time, Russian oil has also started to fall in price amid a decrease in export duties and sunseed prices in Russia. According to IKAR, from April 21 to May 11 in Russia, against the backdrop of a seasonal increase in offers from farmers and a strengthening of the ruble, prices for sunflower seeds fell by 1% to $400-420/t (excluding VAT), and for sunflower oil – by 0.5% to $910-940/t (excluding VAT), but the processing margin still remains negative. The halving of the export duty on sunflower oil compared to March led to a drop in export demand prices for Russian sunflower oil for delivery in May to $1,075-1,100/t FOB. In Ukraine, ...