Export Prices For Russian Sunflower Oil Have Dropped Significantly

Mintec Global
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Prices on the Russian export market for sunflower oil have continued to fall since the beginning of last week, according to data from analysts at APK-Inform.

Unicaps Sunflower seeds

This price trend, according to experts, is formed on the basis of weak trade and procurement activity due to the inactive interest of most major importers in buying products of Russian origin, which, in turn, was caused by the impact of sanctions and problems with the implementation of foreign exchange transactions, as well as preference for buying cheaper alternative oils.

“Pressure on prices was also exerted by a decrease in the cost of production of sunflower oil due to the cheapening of raw materials and the active flow of products to the market,” analysts say.

According to experts, the offer prices for unrefined sunflower oil with delivery in the current month until May 10 are fixed in the range of 1925-2000 USD / t FOB (129,700 – 134,760 rubles / t).

Demand prices for these products on the same terms of delivery as of the deadline reached 1860-1900 USD / t (125 325 – 128 020 rubles / t).

“A more significant decline in prices was slowed down by high logistics costs within the country in the delivery of the product to seaports, a slight increase in imports of sunflower oil by Turkey against the background of the impossibility of purchases from Ukraine and the announced increase in export duties (from 372.2 to 525 USD / t in May from June 1),” APK-Inform said.