The world price of sunflower and vegetable oil stabilized
At the end of January, the Argentine farmers raised almost a third of the sunflower crop. USDA experts believe that in season 2016/17 MG Argentina harvested 3.3 million tons of sunflower against 2.6 million tons in the season 2015/16.
Domestic prices in Argentine pesos on the seeds and oil decline as harvest, but export prices in foreign currency remained stable at the level of 370 $/t for sunflower and 735 $/t for oil on FOB basis.
Prices for the main types of vegetable oils remained stable. The exception is olive oil which is more expensive on the exchanges and in the largest suppliers, Greece and Spain. International Council for olives informs about the reduction of the crop through adverse weather conditions in three world producers of olive oil that caused the price increase.
the Purchase price of the oil from the first pressing (extra virgin) in January of the current year increased compared to January 2016, 10% in Spain, 17% in Greece and 70% in Italy.
In Ukraine, the price for sunflower seeds as of February 15, remained at 395-400 $/t on FOB basis, 10600-11200 on EXW-Elevator 11200-11400 CPT-plant.
For the domestic sunflower oil traders to supply on FOB offer 755-765 $/ton. In the European market, the cost of sunflower oil remains at 800-815 $/ton.