Sunflower prices in Ukraine continue to fall
Reduced export demand for sunflower oil led to reduced domestic demand and purchasing prices for sunflower in Ukraine.
For the week, the purchasing prices for sunflower seeds fell by 200-250 UAH/t to 12400-12600 UAH/t with delivery to the plant and 12200-12300 UAH/t, FCA-farm.
However, this trend in the short term may again change as the prices of palm and soybean oil began to gradually recover. During the week the price of palm oil in Kuala Lumpur rose by 2.8% and amounted to 2482 rnhttp/t (623,5 $/t), and the price of soybean oil in Chicago increased by 3.2% to 696,66 $/t
the rains in Argentina have suspended the harvesting of soybeans and led to the decline in the quality of soybeans, which caused a resumption of growth in prices for soybean oil and meal.
the Data for sunflower crops in Ukraine and Russia confirmed the forecast of the growth areas and production in the black sea region in 2018. As of 23 may, the sunflower planted on an area of 5.5 million hectares (99% of plan), and in Russia - in the area of 6.5 million hectares (86,1%) vs 6.1 mln ha on the same date last year. Long and cold spring did not allow to sow the planned area of barley and wheat, so producers in both countries will significantly increase the area of crops of sunflower.