Purchase prices for sunflower seeds remain under the influence of various factors
Prices for oilseeds are showing rapid growth this season amid a reduction in the global rapeseed crop, and now soybeans in South America. On the one hand, this supports sunflower prices, although they remain under pressure from a record harvest and low demand for sunflower oil.
Last week, due to the strengthening of the hryvnia exchange rate against the dollar by 2%, purchase prices for sunflower seeds in Ukraine decreased by 300-400 UAH/ton to 20000-20150 UAH/Ton (7 714-770/ton with VAT) with delivery to the plant for oilseeds of 48-50%.
Despite the rapid increase in prices for palm and soybean oil in recent weeks, prices for sunflower oil have increased quite slightly, to F 1,400/ton FOB. Processors have reduced the purchase of raw materials in anticipation of price adjustments. And the decline in prices for palm and soybean oil at the beginning of the week by 3-4% indicates the "overheating" of the market.
March soybean futures on the Chicago Stock Exchange rose 15.3% to.577/ton in three weeks on forecasts of a reduction in production in South America. The market is waiting for the release of an updated USDA forecast and price adjustments.
The US soybean market supports an increase in domestic processing volumes, although export statistics remain worse than last year. Only 37.4 million tons were exported compared to last year's 4 million tons, but traders are hoping for increased purchases of soybeans by China from the United States amid a decrease in the harvest in Brazil. At the same time, China is reducing demand for soybeans due to changes in feed recipes and increased use of cereals instead of soybean meal.
The rapeseed market, which rose rapidly in price in the first half of the season, is also being adjusted on the eve of the new season. May rapeseed futures on Paris Euronext fell immediately by 3.6% or 24.75 €/ton yesterday to 677 €/ton or 773.5 €/ton, losing 6.5% of the price since the beginning of the month, and 22% since the beginning of the year, when they reached a record 828 € /ton.
