Sunflower oil prices rose to their highest level since August 2022

Russia is deliberately attacking Ukraine’s vegetable oil sector, inflicting systemic attacks on refineries, ports and infrastructure. Against this backdrop, vegetable oil prices have risen sharply, with sunflower oil FOB six ports reaching its highest level since August 2022, Fastmarkets writes.

There have been at least nine strikes on plants and port facilities in the past three weeks. Market participants estimate that about 25% of processing capacity is idle due to logistical disruptions, power supply problems and security risks.

As of January 8, sunflower oil FOB six European ports — Rotterdam, Amsterdam, Antwerp, Ghent, Dunkirk and Dieppe — had risen to around $1,409/t for February shipments, up $80/t from mid-December. This is the highest level since August 2022.

The market is also strengthened by limited supply: in some places only two or three sellers work, which allows maintaining high prices. The share of Ukrainian oil in EU markets remains critically important – in January-October 2025 on average about 40%, and in October – up to 97%. Imports from Russia to the EU are blocked by sanctions.

As analysts noted, even before the shocks, prices were supported by logistical restrictions, the consequences of attacks on energy, adverse weather and high export duties in Russia. The combined effect of these factors warmed up the market in other directions: CIF Turkey rose to $ 1,318 / t (+ $ 14), CIF India – to $ 1,325 / t (+ $ 50), the highest since February 2023.

Unlike Europe, Turkey and India are actively importing Russian oil. In January-November 2025, Turkey imported 1.1 million tons, of which 64% came from Russia and only 24% from Ukraine. India imported 2.29 million tons in January-October: 46.5% from Russia, 23% from Argentina, and 22% from Ukraine.

Tags: prices, Ukraine, sunflower oil, EU