Sunflower is more expensive despite the fall in the price of oil
In Ukraine the harvesting of sunflower is made by 99%. With an area of 5.92 million hectares (the forecast of 5.96 million hectares) and produced 11.9 million tons of seeds at an average yield of 2.01 t/ha against 2.27 MT/ha in 2016.
Reduction of production in comparison with the previous season by 14% should support sunflower prices during October - November, however, a significant decline in world prices for vegetable oils at present, the company has become the determining factor of pressure on prices.
the Price of sunflower oil on FOB down to the level of 735-745 $/t
Due to the rapid devaluation of the hryvnia purchasing prices for sunflower increased by 100-200 UAH/t to 11100-11500 UAH/t with delivery to the plant or 10800-10900 UAH/t on ex-Elevator or Franco-machine.
Delay of sunflower harvest in Russia caused the reduction of the forecasted harvesting areas and the reduction of gross yield. As of 14 December, the sunflower was harvested from 6,759 million hectares, which is 86.6% of the planned 7,810 million hectares and 5.7% lower than in the same period last year.
the Gross yield is 9.2% lower than last year and amounts to 10,334 million tons, and the yield is 1.53 ton/ha against of 1.59 t/ha in 2016.
the Purchase price of Russian sunflower is also growing, however, due to the reduction of production and lack of proposals.