Ukraine: Price of sunflower for domestic processing increased to $320-340/ton

Sunflower Seed

Published Feb 21, 2024

Tridge summary

The Ministry of Economy has started issuing sunflower export licenses under a simplified system, with prices ranging from $420 to $425 for sunflower sold to Bulgaria and a reduced export duty to Europe. However, soybean prices have dropped and Black Sea sunflower oil sellers are seeking new buyers due to decreased demand from Asia. Meanwhile, the European Parliament's rapporteur, Pierre Bascu, has discussed support for Ukrainian agricultural exports, with Ukraine needing to increase its grain exports. Spain has shown interest in importing Ukrainian corn and sunflower, while domestic processing sunflower prices have risen.

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Original content

The Ministry of Economy has started issuing the first sunflower export licenses under the simplified system. In the direction of Bulgaria, sunflower could be sold at prices from $420 to $425 with a premium for an oil content above 44% on a crude basis, Spike Brokers analysts noted, informs kurkul. The sunflower export duty to Europe was reduced to 1.8% of the export price. Domestic demand from factories in Ukraine is covered for the next few months. It was possible to sell sunflowers for internal processing at a price of $320 to $340/t without VAT, the brokers explained. The latest indications of sunflower buyers: Meanwhile, soybean prices fell across the board to $10 per ton depending on the destination. The latest indications of buyers of GMOs: Black Sea sunflower oil sellers are forced to look for new buyers as demand from Asian countries falls amid heavy inventories, New Year celebrations and increased competition from soybean and palm oil, graintrade said. China reported ...

Source: Landlord