Sunflower Prices Exceeded $700 per Ton Amid Harvest Shortage

This year, the volume of sunflower harvested in Ukraine amounted to about 9 million tons, which is 2 million tons less than expected. Such a harvest deficit has negatively impacted the supply of raw materials for domestic processing enterprises. As a result, processors are facing additional operational difficulties, and the international market is becoming more strained due to the increase in the supply of processed products.

This is reported by AgroReview

Price Dynamics of Sunflower Oil and Meal

At the end of the week, prices for sunflower oil in six ports of Northern Europe rose by €20 compared to the previous week, reaching $1,350. In the Turkish direction, offers increased to $1,315–1,320 on CIF Mersin/Iskenderun terms. Meanwhile, sunflower oil and meal in the ports of Odessa remained virtually unchanged, at $1,230–1,240, while meal was trading at $220–225 depending on the form (bulk or pellet).

Increase in Demand and Purchase Prices for Sunflower

In recent days, factories have begun to show increased interest in purchasing sunflower, which triggered an immediate market reaction reflected in purchase prices. The spot price index for sunflower delivered for processing within 30 days increased by $9 (including VAT), reaching $699 per ton.

“The processing market has missed at least 2 million tons of sunflower this year due to the oilseed harvest being around 9 million tons instead of the expected 11 million tons. This will significantly complicate the work of processors and exacerbate the context of the international market due to saturation with processed products.”