Purchase prices for sunflower in Ukraine rose to UAH 23,000/t

2024-09-30 10:31:13
Purchase prices for sunflower in Ukraine rose to UAH 23,000/t

Purchase prices for sunflower in Ukraine continue to rise against the backdrop of lower harvest forecasts and higher prices for meal and oil.

 

As of September 26, 6.66 million tons of sunflower were threshed from 3.268 million hectares or 66% of the area with a yield of 2.04 tons/ha, which is inferior to last year. It is already clear that the total harvest will be less than the 12.5 million tons predicted by the USDA and the 15.5 million tons harvested in 2023/24 MR.

 

This increases the demand from the processors, who during the week raised the prices of sunflower with an oil content of 52% by another 500-800 UAH/t to 22,500-23,000 UAH/t with delivery to the plant. However, farmers are holding back sales in anticipation of further price increases.

 

During the week, demand prices for sunflower oil rose by $20-30/t to $970-990/t in the ports of Ukraine, and for sunflower meal by $5-10/t to $200-210/t, which supports the prices of sunflower.

 

Export demand prices for sunflower also increased by $20/t to $500-510/t DAP Bulgaria, which, taking into account logistics and customs duties, is equivalent to UAH 20,000/t FCA and indicates the overvaluation of Ukrainian sunflower.

 

Falling oil prices and India's increase in tariffs on vegetable oil imports should have sent stock prices lower last week, but November palm oil futures on the Malaysian exchange rose 5.2% since Monday and only fell on Friday to 2.4% to RM4,052/t or $983/t.

 

December futures for soybean oil on the Chicago Stock Exchange for September 19-25 rose by 9%, and for Thursday-Friday, against the background of profit-taking by traders, fell by 4% to $934/t, which corresponds to the level of last month. During September, quotations fell to $859/t and reached $971/t amid challenging weather in Brazil during soybean planting.

 

Rainfall forecast for the coming days in Brazil has slowed the growth of soybean and soybean oil prices. If the rainy season brings heavy rainfall to the central regions next week, the prices of all oilseeds will fall sharply.

Visitors’ comments (0):