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Sunflower Prices in Ukraine Started Recovering

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In March, demand prices for sunflower seeds from processors in Ukraine fell sharply. They faced problems in selling and shipping products through the Black Sea ports. During a few weeks, export demand prices fell by 40-70$/t from 550-560$/t to 470-480$/t with delivery to Romania and Bulgaria. After that domestic purchase prices fell by 10-15% or 2000-2500 UAH/t.It was the lowest level in the season 14000-15500 UAH/t or 360-420 $/t with delivery to the plant.

The reason for the sharp decline in prices was the fall in quotations for sunflower oil, which dropped from $1000-1050/t to $850-870/t with delivery to Bulgaria.

Sunflower and sunflower oil markets showed low activity as producers held back sunflower sales on the domestic market or tried to sell them abroad. While processors awaited a decision on the continuation of the grain corridor in order to plan oil and meal supplies to India and China.

In Bulgaria, demand prices for sunflowers began to rise against the backdrop of blocking exports from Ukraine. Also, the reduction in olive oil production in Spain will increase demand for sunflower oil in the near future.

Rumors about a possible suspension of sunflower oil exports from Russia in case of sales below the established level also support prices for sunflower oil.

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