At the beginning of the season sunflower prices remain high with the support of vegetable oil markets

The prolonged rise in the price of palm oil supports the quotes of soybean and sunflower oil, so that the purchase prices for sunflower in Ukraine at the beginning of the season remain at a high level.

October palm oil futures in Malaysia rose 3.6% from Monday after falling last week to 4,392 ringgits/ton or понеділка 1,047/ton, although two weeks ago they reached 4,511 ringgits/ton or. 1,075/ton.

According to the SSPOMA trade association, in the period August 1-25, palm oil production in Malaysia increased by 8.5% compared to the same period in July due to higher yields. At the same time, exports for the same period decreased, according to surveyors, by 12-13%, which may turn prices down if this trend continues.

December soybean oil futures on the Chicago Stock Exchange fell 3.3% to.1,305/ton yesterday under pressure from lower soybean prices and pessimistic market sentiment due to the terrorist attacks in Kabul.

On the Dalian stock exchange, palm oil prices rose 0.6% to.1,286/ton, and soybean oil prices rose 0.5% to. 1,413/ton.

In Ukraine, prices for sunflower oil remain at the level of F 1280-1330/ton FOB for deliveries in September – November, but deliveries with later dates are in demand.

Due to the high level of prices for sunflower oil, purchase prices for sunflower at the start of the season reach 15500-16000 UAH/ton with delivery to the plant, and individual buyers are willing to pay up to 16500 UAH/ton for fast deliveries.

Precipitation that has passed throughout Ukraine and will last for another week will delay sunflower harvesting in the South, which will support prices for the first deliveries at a high level. But as offers increase, prices may drop.