The decrease in sunflower oil prices has stopped the increase in sunflower prices in Ukraine
Sunflower Seed
Published Mar 26, 2024
Tridge summary
In Ukraine, last week saw a notable increase in sunflower purchase prices by 400-600 UAH/t, reaching 15,000-15,500 UAH/t, attributed to a 4% rise in sunflower oil prices and a nearly 2% increase in the dollar exchange rate over the past two weeks. Despite an initial spike, prices adjusted after a decrease in the interbank dollar rate. Sunflower oil demand prices increased to $855/t, with exports surging by 67% to 178 thousand tons for the week of March 14-20, contributing to a total of 3.6 million tons for the 2023/24 marketing year. Additionally, the article reports a slight increase in demand prices for Ukrainian sunflower in Bulgaria, a decrease in palm and soybean oil futures, and an unexpected decline in Argentina's sunflower production forecast due to heavy rains, as per the Buenos Aires Grain Exchange.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.
Original content
Last week, the purchase prices of sunflower in Ukraine increased by 400-600 UAH/t to 15,000-15,500 UAH/t (including VAT) with delivery to the plant against the background of a 4% increase in sunflower oil prices, as well as a jump in the dollar exchange rate by almost 2 % for the last two weeks. Many processors were paying a higher price for fast delivery, but at the end of the week they lowered their prices following the drop in the interbank dollar rate. Demand prices for sunflower oil with delivery to buyers for the week increased by $10/t to $855/t, but in Ukraine, spot prices in Black Sea ports remained at $770-785/t, while demand prices for sunflower meal in Black Sea ports ports increased by $5-10/t to $170-175/t. The export of sunflower oil from Ukraine for March 14-20 increased in comparison with the previous week by 67% to 178 thousand tons, and in general in 2023/24 MR reached 3.6 million tons from the forecasted 6 million tons. Demand prices for Ukrainian sunflower for ...
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