Russia has promised to release foreign vessels from Ukrainian ports, which has led to lower prices for sunflower oil

Russia's senseless war against Ukraine has been going on for 33 days, and the whole world has realized that one of its tasks is to damage the world economy by raising oil and agricultural prices and increasing the number of migrants from Ukraine to the EU.

Russia's blockade of Ukraine's seaports has halted exports of domestic goods and led to a sharp rise in prices for wheat, corn and sunflower oil on world markets. Since the beginning of the war, the Russian military has lined up two foreign dry cargo ships in Ukrainian ports. After that, other ships did not risk going to sea to avoid being shelled by the Russians. Currently, 67 foreign vessels from 15 countries remain blocked in Ukrainian ports.

Under pressure from the international community, Russia on Friday promised to open a humanitarian corridor for foreign ships to leave Ukraine's ports. The Russian military has said the corridor will be 80 nautical miles southwest, 3 miles wide, 8 a.m. to 7 p.m. Moscow time, starting Friday, and ships will be assembled at 8 p.m. miles southeast of the Black Sea.

World demand for sunflower oil after reaching a record level of 2200-2300 $ / t FOB last week fell by 200-300 $ / t to 1900 $ / t with delivery in April.

India, the main buyer of sunflower oil, suffers the most from the blockade of exports from Ukraine, and in March imported only 30-40 thousand tons of Russian sunflower oil. While in the ports of Ukraine there are 360 thousand tons of sunflower oil for Indian buyers. According to the SEA, in 2021/22 MY (starting in November), as of March 14, India imported 715.9 thousand tons of sunflower oil from Ukraine and 121.3 thousand tons from Russia.

Ukraine continues to export sunflower oil in small batches by land, as well as through the Danube ports of Izmail and Reni.

Last week, demand prices for sunflower oil in Ukraine fell to $ 1500-1550 / t.

Export prices for Russian sunflower oil fell to 1900-2000 $ / t FOB, as traders accelerated sales ahead of the introduction on April 15 of oil export quotas in the range of 1.5 million tons, which will last until September 1.