In 2024/25 MY, the global sunflower oil production is expected to decline due to the significant reduction of sunflower harvest. This situation is already affecting, at least partially, the current prices. It is reported by APK-Inform with reference to Oil World.
As noted, on October 1, sunflower oil in Rotterdam was quoted at the premium of 29 USD/t compared to soybean oil, which contrasts with the discount of 223 USD/t on average during October 2023.
In contrast to the previous two years, the seasonal pressure on supply was offset by the uncertainty about the size of the sunflower harvest in Eastern Europe, Ukraine and Russia, as well as the restraint on the sale of raw materials by farmers to crushers.
According to APK-Inform monitoring, as of October 2, the demand prices for sunflower oil in Ukrainian ports increased to 970-1000 USD/t CPT-port, which is on average 20 USD/t higher than last week.
Trends and prospects of the global oilseeds market 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.
