Sunflower is getting more expensive in Ukraine
25 February 2025 19:27
The rise in prices for sunflower oil in Ukrainian ports has increased the purchase price of sunflower, but farmers continue to hold back sales in anticipation of the desired level of 30 thousand UAH/t.
This was reported by the Electronic Grain Exchange of Ukraine, "Komersant Ukrainian" reports.
“During the week, the export prices for sunflower oil in the Ukrainian ports of the Black Sea increased by 10-20 USD/t to 1110-1120 USD/t, while the prices for sunflower meal remained at 220-225 USD/t. Against this background, the purchase prices for sunflower with oil content of 52% increased by 500-1000 UAH/t to 27500-28500 UAH/t with delivery to the plant,” the report said.
According to Trading Economics, the average price of sunflower oil for delivery to buyers increased by 1.3% to 1363 USD/t (7% per month) over the week, but this figure takes into account the duty in India, so it does not fully reflect the market situation.
As a reminder, in September 2024, India has already introduced a 20% basic duty on crude and refined oil, after which the import duty on crude (palm, sunflower and soybean) oil increased from 5.5% to 27.5%, and on refined oil – to 35.75%.
In Ukraine, small crushers continue to stand idle due to low (or sometimes negative) margins on sunflower processing, so only a few large mills buy it, reducing competition in the market. This will stop further growth in sunflower prices, especially given the fall in prices in neighboring markets.
