According to APK-Inform, the demand prices for the new harvest sunflower are gradually increasing amid the news on the condition of the planted areas and further decline of the oilseed production forecast in Ukraine in 2024.
The preliminary price level for sunflower seeds in 2024 crop is about 18500-20000 UAH/t CPT. At the same time, crushers are not actively speculating on possible purchase prices, given the uncertainty of the situation. However, they assume that in the near future prices may rise to 20,000-22,000 UAH/t CPT or even to 23,000 UAH/t CPT.
"Among the reasons for the possible increase are the expectations of lower harvest compared to last year, restrained sales of the oilseed, and high competition in the domestic market for the volumes of quality raw materials. At the same time, such price support factors may remain relevant during the mass sunflower harvesting period, as farmers are planning to wait for more attractive prices, given the current situation," APK-Inform analysts said.
Thus, the sunflower harvesting campaign is gradually being launched in more and more regions. So far, the harvesting is mainly focused on early varieties, which mostly suffered from the heat, but the supply of the new crop is almost absent, both in terms of physical volumes and forward transactions.
It should be noted that in August, APK-Inform Agency's forecast of sunflower production in 2024 was downgraded to 14.2 mln tonnes, down 3% from July and 4% from 2023.
More details about the prospects of the Ukrainian sunflower market will be discussed at the XXII International Conference "Fat&Oil Industry-2024" which will be held on October 30 in Kyiv.
To register for the conference, please visit APK-Inform website.
