Ukraine: Sunflower prices are forcing factories to switch to soybeans

This is stated in a statement by the Ukroliyaprom association. Stepan Kapshuk, General Director of Ukroliyaprom, noted that prices have increased compared to the beginning of the 2023/24 MY from 13-14 thousand UAH/t to 25-26 thousand UAH/t, or by $250. And prices for sunflower oil on the world market have increased by $130. He noted that, given the forecasts for a reduction in the sunflower harvest in Ukraine and high competition among processing enterprises, agricultural producers are restraining sales of sunflower, expecting even higher prices. “Such a pricing policy for sunflower will lead to the fact that multifunctional oil-extracting plants will reduce sunflower processing and increase soybean processing, which some are already doing. This is also confirmed by the growth in exports of soybean oil and meal in September - November 2024/25 MY, by 42.5% and 13.4%, respectively,” explained Stepan Kapshuk. He noted that soybean processing products, in particular soybean oil, are ...