The purchase price of soybeans and sunflower in Ukraine resumed growth
with the rapid rise in price of vegetable oils last week refiners sharply stepped up their purchases of soybean and sunflower in Ukraine, which led to another price increase.
After prices for soybean and palm oil on the eve of the new year has renewed a 10-year high, the market expected to correct them. However, in the beginning of the year due to the strike in Argentina, the price of vegetable oil rose again by 3-5%, resulting in sunflower oil rose to of $1,280-1,300/MT FOB.
This allowed refiners to increase procurement prices for sunflower to 500-600 UAH/t to 21000-21200 UAH/t with delivery to the plant that has increased sales from producers who do not hurry with the implementation pending the entry into force of the law on reduced VAT for certain product groups and on the background of the beginning of procurement of fertilizers and seeds for the new season.
the Purchase price of soybeans also rose due to the recovery of export demand and following the world. On the stock exchange in Chicago soybean futures reached 507 $/t, whereas on the physical market prices for Brazilian and U.S. soy exceeded $ 530-540 $/t FOB, which allowed exporters to raise prices in Ukraine for soybeans with GMOs to 500-505 $/t or 17000 UAH/t and soybeans without GMO to 530-540 $/t at the port or 550-560 $/t on the border with Poland and Belarus.
amid rising export prices, the processors raised the purchasing prices for soybeans with GMOs to 500-600 UAH/t to 17100-17500 UAH/t with delivery to the plant (equivalent 515-525 $/t in port) and soy no GMOs in 17400-17700 UAH/t
Today, prices will stay under pressure of declining world markets and the strengthening of the hryvnia against the dollar, although the new balance for soybeans from the USDA can appear new factors impact on the stock.