The export price of Ukrainian sunflower oil has reached a four-year high
According to the monitoring of the Refinitiv Agriculture service, export quotations for crude sunflower oil from Ukraine continued their rapid growth and updated their four-year high, rising to 1,300 US dollars per ton on FOB terms.
The driving force behind the price increase was due to the strengthening of quotations for other vegetable oils, as well as the limited supply of sunflower oil. Oil supply prices in February-March exceed $1,300 per ton on FOB terms. At the same time, demand from importers continues to remain low due to inflated prices for sunflower oil. The difference between the best prices of orders for sale and purchase for sunflower and soybean oil in the markets is at least $220 per ton, despite a significant increase in soybean oil prices in recent days.
It is noted that for the period from October to February 2020/21, the export of sunflower oil from Ukraine reached almost 2.1 million tons compared to 1.9 million tons for the same period in 2019/20. According to preliminary statistics, the sunflower harvest in Ukraine in 2020 decreased to 13.1 million tons (in 2019 – 15.2 million tons).
