Processors are in no hurry to buy sunflower seeds

The global vegetable oil market was under pressure this week: palm oil on Bursa Malaysia was falling, soybean oil on CBOT remained volatile, which formed a restrained external background. At the same time, sunflower oil looked relatively stable – FOB Northern Europe is held in the range of $1,460-1,465 for March-April, with local strengthening of individual supply periods.

This was reported by analysts at Spike Brokers.

Sunflower oil in the EU maintains a premium to soybean and palm oil, while growth in the soybean complex is limited by the weakness of palm and high global stocks. This forms a neutral external background without sharp price impulses and does not create space for a significant increase in prices.

In the domestic market of Ukraine, producers behaved with restraint in late January – early February, limiting sales. Against this background, most processors have closed their needs for the current period in advance. At the same time, individual plants have begun to buy raw materials in pieces, paying $700-710 with delivery to the plant, depending on the quality and region. The average price for plants according to the SPIKE Index in CPT Odesa terms remained unchanged at $694 with VAT.

Sunflower seed exports remain minimal, as domestic processing has become more active in purchases. The main export focus in sunflower oil and meal continues to gradually shift from ports to land routes.

Tags: Ukraine, prices, sunseed