Sunflower oil has risen in price by another 3-4% due to the shortage of sunflower supplies caused by low prices and the growth of the euro.
With the support of neighboring vegetable oil markets, the demand prices for sunflower oil with delivery to customers increased by 2.3% to $895/t or €817/t over the week, including for DAP – Bulgaria – up to $820-830/t or €750-760/t, for CIF – Türkiye – up to $910-920/t or €830-840/t. The prices of demand for sunflower oil delivered to Italy remained at the level of €810-820/t, but in dollars, the price increased by 20 $/t due to the growth of the euro against the dollar by 2.3% over the week.
The demand prices for Ukrainian sunflower oil delivered to the ports of the Black Sea increased by $20-40/t to $750/t or €685/t DAP and to the ports of the Danube – up to $770-800/t or €700-730 DAP.
Against the background of rising prices for sunflower oil and restraining sunflower sales by producers, processors were forced to increase the purchase prices for sunflower by 500-1000 UAH/t to 13600-14600 UAH/t or €345-370/t with delivery to the plant, but this did not activate supplies.
Soybean oil
Also, prices for soybeans and soybean oil were actively growing last week against the background of dry and hot weather in central Brazil, but at the end of the week, they declined slightly as traders began to take profits.
December soybean oil futures on the Chicago Stock Exchange rose by 3.4% at the beginning of last week and then fell by 2.7% to $1,145/ton or €1,045/ton (+1.4% for the week, -3.5% for the month) after oil prices fell by 5%.
Palm oil
January palm oil futures on the Bursa stock exchange in Malaysia on Friday fell by 1.7% to 3931 ringgit/t or €772/t (+3.4% for the week) following the prices of oil and soybean oil. They were supported by export data, which, according to the surveyor AmSpec Agri, for November 1-15 increased by 6.4% compared to the same period in October to 645.6 thousand tons.