Prices for sunflowers of the new crop in Ukraine may rise

Demand prices for sunflowers of the new harvest in Ukraine are gradually increasing based on data on the state of crops and forecasts of a reduction in production, reports IA "APK-Inform".

 

Currently, 18,500-20,000 UAH/t SRT are offered for sunflowers of the 2024 harvest. But in view of the unstable situation, processors do not actively declare prices and assume that in the near future they may reach 20,000-22,000 and even 23,000 UAH/t SRT.

 

"APK-Inform" experts consider the reasons for the possible increase in prices to be the reduction of the harvest, restraint of sales by producers and high competition between buyers in the domestic market. Even during the period of mass harvesting, farmers will not be in a hurry to sell sunflower, so its prices will remain at a high level.

 

An increasing number of regions of Ukraine are joining sunflower harvesting. So far, mostly early varieties, which were the most affected by the heat, are harvested, but there are almost no offers of sunflowers of the new crop - on forward contracts, no physical volumes.

 

We will remind that in August IA "APK-Inform" reduced the forecast of sunflower production in 2024 by 3% to 14.2 million tons, compared to July estimates, which will be 4% less than in 2023.