Declining prices for sunflower oil and meal have once again pushed down sunseed prices in Ukraine

Source:  GrainTrade
соняшникова олія

Demand prices for sunflower oil in Ukraine have started to fall again under the pressure of falling prices for palm and soybean oil, which has led to a decrease in sunseed prices.

Since Monday, demand prices for sunflower oil delivered to Black Sea ports have fallen by $10-15/t to $1,120-1,125/t following a 3% drop in palm oil prices.

Due to the fall in the euro exchange rate against the dollar, demand prices for oil from EU countries dropped to $1,140-1,160/t with delivery to Bulgaria or Greece, and buyers began to hold back purchases in anticipation of further price declines.

Purchase prices for sunseed with 50% oil content fell by 300-500 UAH/t to 26,500-27,500 UAH/t with delivery to the plant. If last week processors actively competed for volumes, this week some plants stopped purchasing altogether.

Export demand prices for sunflower meal fell by $5-10/t to $215-220/t for delivery to Black Sea ports over the week, which reduced processing margins.

May palm oil futures on the Bursa exchange fell 5.4% in 2 weeks to 4,259 ringgit/t or $970/t amid a seasonal recovery in production and a slowdown in exports in March.

Export offer prices for Russian sunflower oil will soon drop due to the reduction of the export duty for April on sunflower oil by half to $54/t (at an indicative oil price of $1,065.7/t) and on meal – by 1.9 times to $11/t (at an indicative meal price of $206.1/t).

Next week, statistics on oil imports to India will be announced, which, against the backdrop of new US tariffs, may have a significant impact on markets, so Ukrainian farmers should record sunseed sales at currently high prices.

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