Sunseed prices in Ukraine increased amid a shortage of supply

Published 2024년 12월 12일

Tridge summary

The article highlights a surge in sunseed prices in Ukraine, driven by producer restraint, despite a drop in demand due to lower oil prices. The USDA has increased its global sunseed and sunflower oil production forecasts for MY 2024/25, especially for Ukraine and Russia, despite harvest data indicating lower yields. Conversely, global sunseed consumption and ending stocks forecasts have been reduced. These developments, coupled with the availability of cheaper palm oil, contribute to the pressure on sunflower oil prices, which remain stable despite these factors. Additionally, the article notes a decrease in soybean oil futures and palm oil quotes, further impacting sunflower oil prices.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

During the week in Ukraine, the price of sunseed with oil content of 50% increased by 200-300 UAH/t to 25800-26300 UAH/t with delivery to the plant amid restraint of sales by producers, but processors began to buy SFS only for the sold volumes of oil, the demand prices for which have fallen sharply. In the December report, the USDA experts unexpectedly raised the forecast of the world sunseed production in MY 2024/25 by 0.07 to 50.512 (56.03) mln tonnes, in particular, for Ukraine – by 0.4 to 12.9 (15.5) mln tonnes, for Russia – by 0.3 to 16.3 (17.1) mln tonnes, while for Argentina the estimate was left at 4 (3.9) mln tonnes. At the same time, according to the official data, Ukraine harvested only 10.1 mln tonnes of sunseed from 4.9 mln ha or 97% of the area, while in Russia local agencies estimate the harvest at 15.8 mln tonnes. The forecast of world sunseed consumption was increased by 0.1 to 51.313 (56.67) million tons, while the estimate of ending stocks was reduced by 0.01 to ...

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