ODESA: Oilseed prices are rising this season due to the reduction of global rapeseed production, and now soybean crops decline in South America. On the one hand, this supports sunflower prices, and on the other hand, they remain under pressure from a record harvest and low demand for sunflower oil.
Last week, due to hryvnia strengthening against the dollar by 2%, the purchase prices for sunflower seeds in Ukraine decreased by UAH 300-400/t to UAH 20.000-20.500/t (670-690 $/t) with delivery to the plant or port.
Despite the rapid growth in palm and soybean oil prices in recent weeks, sunflower oil prices rose only slightly to $1.400/t FOB. Processors reduced the purchase of raw materials in anticipation of price adjustments.
Rapeseed grew rapidly in the first half of the season. Now the market is undergoing an adjustment in anticipation of the new season. Traders are ready to pay 650-680 $/T CPT port. But experts expect that price will gradually go down.
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