High demand supports the purchase price of sunflower in Ukraine

the deficit of the sunflower makes the processors to raise prices for large quantities, despite a slight decline in prices for sunflower oil.

This week amid limited supply and a small increase in the prices of sunflower oil the purchase price of sunflower in Ukraine increased to 23500-24000 UAH/t or 840-855 $/ton (with VAT) delivered to the factory. But manufacturers keep selling in waiting for prices to recover to the level 25-26 thousand UAH/t.

IN 2020/21 MG of collected 13-13,5 million tons of sunflower seeds, as of 1 March was revised to 7.3 million tonnes, and sunflower stocks, according to the state statistics service, was 3,622 million tonnes compared with 5,268 million tons on 1 Mar 2020

In the period September – February sunflower oil production made up 3.28 million tonnes, while exports of 3 million tons with the predictions of 5.92 million tons and 5.5 million tons, respectively.

This week, prices for the next delivery of Ukrainian sunflower oil increased by 20-30 $/t to 1510-1550 $/MT FOB after neighbouring markets of oil and rumors about the possible restriction of the export of sunflower oil due to the rapid growth of domestic prices.

June futures of palm oil on the stock exchange in Malaysia since the previous fall yesterday rose 2% to 3726 ringgit/t or 901 $/t, but further growth is hindered predictions of increasing production.

May futures for soybean oil on the stock exchange in Chicago grew by 2.5% to 1170 $/t recouping the losses Monday.

On the stock exchange in Dalian futures palm oil rose 1% to 1147 $/ton, and soy – 0.6% to 1316 $/t

Caused by rumors of a possible limitation may 1, export Ukrainian sunflower oil speculative price increases will not be long, because most market participants don't believe in quotas.

the Acceleration of sowing of sunflower and the predicted increase of the area of sowing and harvest in the new season will significantly inhibit the growth of prices for new crop, so buyers will increase the purchase of a new crop at lower prices.