The growth in demand for oil supports prices on sunflower

Reduction of stocks of sunflower on the background of reduction of offers from producers and rising export prices for sunflower oil led to higher purchasing prices for sunflower in Ukraine.

According to the state statistics service sunflower stocks as of 01.03.2018 amounted to 4,348 million tonnes, at 383 thousand tons lower than in the same period last year.

Due to a prolonged drought in Argentina and the fall harvest rise in prices of soybean complex supports the export price for Ukrainian refined sunflower oil, which in March increased by 10-15 $/t as of April 3, the prices of demand for unrefined sunflower oil FOB-the ports of Ukraine for shipments in April-June amounted to 760-770 $/t

amid rising prices for soybeans at the port and at the plant to 12900-13300 UAH/t, sunflower prices have long remained at the level of 11800-12000 UAH/t with delivery to the plant that manufacturers have reduced sales in anticipation of higher prices to 12000-12200 UAH/t ex-farm.

But earlier in the week, processors have increased the price of sunflower 100-150 UAH/t to the level 11800-12000 UAH/t on the basis of ex-farm or 12100-12200 UAH/t with delivery to the plant.

in the Near future sunflower prices will remain under pressure to strengthen the hryvnia, which hindered the growth of input prices and the seasonal increase in the number of proposals from manufacturers.