Sunflower prices declined due to strengthening of the hryvnia
Sharp strengthening of the hryvnia in recent weeks has led to a drop in purchasing prices for sunflower in Ukraine.
demand Prices fell by RS 200-300/MT to the level of 11500-11800 UAH/t with delivery to the factories and 11100-11300 UAH/t on the basis of the Franco-economy.
Prices for Ukrainian crude sunflower oil decreased to 745-750 $/MT on FOB-ports of Ukraine due to the reduction of demand in the Ukrainian ports, because of the oversupply of product at terminals and plants.
the Decrease in world prices for palm and soybean oil leads to a decrease in demand for Ukrainian sunflower oil.
For the first four months of the season Russia increased sunflower oil production by 2.4% to 2.13 million tonnes, According to the updated data, the harvest of sunflower in Russia can achieve the 10.5-10.7 million tonnes against the official forecast at 9.6 million tonnes and a record 11 million tonnes last year.
the increase in the production and export of oil from Russia in the current season will again be significantly pressure on prices and the demand for Ukrainian sunflower oil, which consequently will affect purchase prices for sunflower.