Alyona Tsaryova, manager of an oil extraction plant, made her analysis of the sunflower oil market.
Türkiye introduced tariff quotas for the import of 100,000 tons of sunflower seeds at a rate of 12% (was 27%). Also 250,000 tons of sunflower oil at a rate of 22% (was 36%). This news shook the Black Sea market. Accordingly, sellers from Ukraine and other countries rushed there. Such concessions for importers will be valid until April 15th, 2024.
Important innovation was implemented for export of sunflower, rapeseed, wheat, and corn, from February 1st. Thus, those who travel by “pseudo-transit” will not have transfers. Any violation of the rules of export to Poland, Slovakia, Hungary, Romania or Bulgaria, will lead to exclusion from verified list. Accordingly, only after 6 months exporter will be able to apply again.
Prices overview.
Analysts are not enthusiastic right now. Sunflower seeds prices are down. Oil producers in Ukraine are ready to buy seeds at UAH 14-14.8 thousand with VAT on basis CPT factory. Port Izmail shows from 15 to 16 thousand UAH including VAT. DAP Lithuania — 450 USD/T or 417 EURO/T , DAP Romania — 460 USD/T or 426 EURO/T, DAP/CIF Bulgaria — 460-470 USD/T or 426-435 EURO/T.
The prices of sunflower oil decreased daily by $5-10 or €4-9 during the week. Purchasing price on basis CPT Odesa is at the level 760-770 USD/T or 704-714 EURO/T now. In Danube ports traders also are giving a maximum of 780USD/T or 723 EURO/T.
With all these indications, buyers are not active and sellers are waiting for improvement.