Sunflower prices decline
Domestic farmers in 2016, attracted a record sunflower crop is 13.6 million tons, which led to corresponding increase in volumes of processing and export of finished products.
Within five months of the season 2016/17 MG large and medium enterprises produced 2.9 million tons of sunflower oil and its export exceeded 2.7 million tons. In addition, traders sold on the external markets of sunflower seeds, which exported more than 160 thousand tons.
sunflower Prices fall after the prices of other oilseeds. Processors have lowered the price by 100-200 UAH/t and now offer the sunflower plant 11000-11200 UAH/t, on elevators – 10500-10700 UAH/ton.
the Main factor in the reduction of prices for vegetable oils in addition to a record soybean crops in South America was the fall of oil prices from 56 up to 51 $per barrel.
From the further dynamics of prices on vegetable oil will depend on how Ukraine will be able to realize its potential in the export of sunflower seed and its processed products.
On the stock exchange in Chicago for 10 days soybean oil fell from 765 $/ton up to 713 USD/ton. In the EU, the price for March deliveries of soybean oil fell from 765 € /ton to 750 euros/t. However, the cost of sunflower oil is still on the level 775 $/ton for March shipments to the EU and 740-750 $/t on FOB black sea ports.
Further reduction of prices on oil will lead to the fall of prices for sunflower oil, even with small amounts of offerings on the market.