Sunseed prices in Ukraine increased by $11/t in a week

The global vegetable oil market remained volatile this week, but without sharp impulses. This was reported by analysts at Spike Brokers.

Palm oil on Bursa Malaysia decreased from 4’168 to 4’023 MYR/t (-145 MYR or about -3.5% w/w), which formed a restrained background for the entire complex. At the same time, soybean oil on CBOT increased from 55.52 to 57.37 cents/lb (+1.85 or +3.3% w/w), partially compensating for the weakness of palm. Oil remained relatively stable, which limited the pressure on the biofuel segment.

Sunflower oil holds its position on the European market. FOB Northern Europe: March – $1’470 (unchanged w/w), April – $1’460 (+$5 w/w). Despite the correction of palm oil, sunflower oil maintains a premium to soybean oil, which indicates stable demand in the EU.

In Ukraine, the domestic sunflower market is becoming more active from the side of buyers. According to the SPIKE Spot Index, the price of sunflower seeds CPT parity Odesa increased to $705 with VAT. A week earlier, the figure was $694, so the market has added +$11 since the beginning of the month. Processors remain cautious in purchases. Sales from farmers are restrained, which supports the market, but without forming a sharp growth momentum.

Tags: Ukraine, prices, sunseed