Sunflower prices are rising in support of the vegetable oil markets
After a sharp jump in prices for soybeans and oil in Chicago on Wednesday, yesterday, the quotations declined slightly but later resumed its growth against the promised next week to further precipitation in the United States.
Futures on soybean oil after the jump to 620 $/ton dropped to 610,2 $/t
In Malaysia, palm oil prices yesterday fell 1% to 2084 Ringgits/t or 496,64 $/t
Following the increase in world vegetable oil markets bid prices for Ukrainian sunflower oil grew by 3-5 $/t to 705-710 $/t FOB for shipments in July-August, although prices demand remained at the level 695-700 $/t FOB. Prices maintain high demand from India on the background of a small number of proposals of the Ukrainian oil.
the Increase in prices for sunflower oil led to a rise in Ukraine, purchasing prices for sunflower, which for the week rose to 150-250 UAH/t to 11000-11500 UAH/t with delivery to the plant and 10500-10700 UAH/t on the French economy.
Another reason for the increase in the price of 200 UAH/t was the growth of the dollar on the interbank market during a week from 26.3 to 26.9 UAH/$.
the Number of offerings of sunflower has been limited due to the reduction in producer inventories and containment of sales in anticipation of further growth of the dollar and input prices.