Sunflower prices rise after the rise in price of sunflower oil

2019-04-25 12:08:58
Machine translation
Sunflower prices rise after the rise in price of sunflower oil

In Ukraine, the confrontation between the owners of significant quantities of sunflower, holding back sales in expectation of higher prices, and processors that in order to attract the volumes are forced to raise prices. Besides, prices for sunflower supports the rise in price of sunflower oil on the world market.


the Purchase price of sunflower seed delivered to the plant increased by 50-100 UAH/t to 10800-11300 UAH/t, despite the strengthening of the hryvnia exchange rate from 26.8 to 26.6 UAH/$. Further growth of the dollar will significantly affect the price of the sunflower.


Despite the political factors, the dollar on the interbank market remains stable, although after the election of the President of Ukraine, the tension in relations between Ukraine and Russia will increase. Russia stopped oil supplies to Ukraine and restricted them to Belarus. This led to a significant jump in the prices of diesel and could soon cause an increase in demand for foreign currency to purchase petroleum products from other countries.


the Low domestic demand for sunflower oil from India and other importers puts pressure on prices, however, they gradually strengthening due to the reduction proposals. Bid prices rose to 670-675 $/t FOB, while the bid price remain at 665-668 $/t FOB Black sea for shipments in may-June.


the price of soybean oil in Chicago Monday fell 2.8% to 623 $/t after the July futures on soybean, which fell by 2.8% to 319,4 $/t


In Argentina, prices for soybean oil remain at 625 $/MT FOB Up River, but the prize for the sunflower oil to supply to India has increased to $50/t


In the EU on the background of reduction sentences of the August futures on rapeseed increased to 714 /MT FOB for November – up to 720 /MT FOB.


the increase in oil prices supports the palm oil prices in Kuala Lumpur at level 526 $/t for supplies in June amid forecasts export growth in April.


Low prices for palm and soybean oil in the near future will limit the growth of prices for sunflower oil, so the rise in price of sunflower is possible only due to the devaluation of the hryvnia for the further escalation in Eastern Ukraine.

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