In September of this year, Ukraine processed one of the smallest volumes of sunflower seed for the last several years. According to APK-Inform estimation, in the first month of the new season-2024/25 Ukraine processed about 861 thsd tonnes of the oilseed, which was the lowest volume in September since 2014/15 MY.
“This figure is almost at the level of last year's September volumes (-1%), however, the difference is that at the beginning of the season-2023/24 Ukrainian companies faced the difficulties in exports due to the suspension of Odesa ports operation, which restrained the more active increase of processing, while in the current season the main problem is the formation of the raw material base,” - explained APK-Inform.
The majority of the farmers took the position of restraining the sales due to the expectations of lower sunflower crop in 2024. As a result, in September, the purchase prices for the oilseed increased and in early October reached the highest level since February 2022 - 22000-23800 UAH/t CPT.
However, the further price increase did not contribute much to the acceleration of sunflower sales by farmers - the excitement created by the processors provoked the oilseed owners to slow down the sales in anticipation of new price records.
At the same time, APK-Inform analysts note that the increase in prices for raw materials is supported by the growth of prices on the export market of sunflower oil.
According to APK-Inform estimations, in 2024/25 MY Ukraine can process the minimum volume of sunflower seeds for the last 3 seasons - about 13-13.4 mln tonnes (-11% compared to 2023/24 MY).
Trends and prospects of the oilseed market of Ukraine and the Black Sea region in the new season-2024/25 will be discussed at the XXII International Conference Fat&Oil Industry-2024, which will be held on October 30 in Kyiv.
You can register for the conference on APK-Inform website.
