Delayed sunflower harvesting in Ukraine leads to higher prices

Heavy rains that took place throughout Ukraine last and this week delayed the harvesting of sunflower seeds. This supported the purchase prices for sunflower seeds, which since the beginning of the week have increased by 500-600 UAH/ton to 16300-16500 UAH/ton with delivery to the plant, although a year ago at the end of August they did not exceed 11000-11500 UAH/ton.

Despite a slight decrease in demand prices, supply prices of Ukrainian sunflower oil for delivery in September – November remain at a high level of F 1280-1330/ton FOB, which supports sunflower prices. But cheaper palm and soybean oils will increase pressure on sunflower oil prices in the near future.

October palm oil futures on the Malaysian stock exchange fell 3.2% to 4,254 ringgit/ton, or.1,012/ton, on forecasts for a 15-16% decline in exports in August compared to July.

December soybean oil futures on the Chicago Stock Exchange fell 1.7% to.1,290/ton yesterday, following a drop in soybean prices driven by expectations of an increase in new crop supply.

On the Dalian stock exchange, palm oil futures rose 1.2% to.1,286/ton, and soybean futures rose 1.2% to. 1,412/ton.

In Europe, prices for rapeseed oil delivered in October are 1,350 €/ton or майже 1,594/ton, which is almost 50% higher than last year's price level, due to high global demand for vegetable oils, a shortage of rapeseed supplies and the shutdown of several processing plants in Germany and France.