Prices for sunflower oil are falling because of falling demand

Ukrainian crude sunflower oil price continues to fall amid increasing competition from Russia and falling demand due to lower quotations of palm and soybean oil.

March report USDA forecast of production of oilseeds in 2017/18 MG for the black sea countries increased in comparison with the previous balance of 15 thousand tons to 26,515 million tons.

Assessment of sunflower production in Kazakhstan increased by 153 thousand tons to 903 thousand tons, while Russia reduced by 138 thousand tons to 10,362 million tons.

According to the Customs Union, in January Russia exported 195 thousand tons of sunflower oil against 267 thousand tonnes December 2017, which is a record of the current season.

in General, during September-January on the foreign markets, it sold more than 1 million tons of sunflower oil, and taking into account projections of export in 2017/18 MG to the end of the season will be sold almost 1 million tonnes of these products.