In the first half of the season 2023/24, Ukraine increased the export of sunflower oil compared to the same period of the previous season from 2.7 to 3.2 million tons. In particular, in February 603 thousand tons of oil went for export. This is 1% lower than in January 2024, but 50% higher than exports in February 2023. According Ukrainian customs data, oil exports to Türkiye increased by 15%. Export to India had much bigger increase by 54 times from 0.7 to 38.1 thousand tons.
High export rates are due to low prices for Ukrainian oil, which is offered cheaper than soybean or palm oil.
Purchase prices for sunflower in Ukraine this week fell by 9,62-14,42€/t to 331-348€/t (including VAT) with delivery to the plant. This decrease took place against the backdrop of a slight decline in prices for sunflower oil and a noticeable drop in prices for sunflower meal.
Demand prices for sunflower oil with delivery to customers within a week decreased by another 5 $/t(4,61€) to 810 $/t(746€), including in the ports of Ukraine – to 730-735 $/t(672-677€).
Demand prices for sunflower meal in ports fell by 5-10 $/t(4,61-9,22€) to 155-160 $/t(142-147€), and demand on the western border is practically absent due to the blocking of crossings on the border with Poland.