Price of Black Sea sunseed is at the crossroads
UkrAgroConsult
Article author:
After slight losses last week, average FOB price of sunseed in the Black Sea ports rose a new seasonal peak. In January the key supplier of sunseed – Russia – introduced a 30% export duty for this crop, which is effective till the end of the season.
At the same time, the necessity of the key importers (the EU and Turkey) for the rest of the season remains high, thus, sunseed FOB Black Sea is now testing a new peak, UkrAgroConsult reports.
Meanwhile, there are factors, which may limit the surge – sporadic nature of farmer sales this season (sudden rise and sudden fall) and pressure for sunoil prices from alternative vegoils (palm oil and soyoil).
Black Sea farmers are closely watching the tendencies on the world markets (like the falling price of soybeans on CBOT) and may be willing to release the sunseed stocks more actively, so as not to miss the best price.
Full version of the article is available to subscribers for Online Analytics “Black Sea Vegoils” in the new innovative tool for agri market participants – AgriSupp by UkrAgroConsult. Subscribe to a 3-day free trial!!
Start using analytical data and increase your efficiency now!
Register to get your demo access: http://agrisupp.com/en/register/1
Read also
Egypt purchased 290 kmt of Ukrainian, Bulgarian and Romanian milling wheat
Grain prices in Bulgaria have “calmed down”
Romania: Sunseed exports may fall by more than 50% in 2024/25
Corn and soybean harvests are coming to an end in the US
Ukraine has already exported more than 90 thsd tons of sugar
Got additional questions?
We will be happy to assist!
Write to us
Our manager will contact you soon