Another slowdown in exports and disruptions in the work of oil processing enterprises did not stop the increase in purchase prices for sunflowers caused by a shortage of offers and active export of seeds.
According to the UN, after November 19, no more than 5 ships leave the ports of Ukraine every day, although up to 10 ships left in previous weeks. This is due to the bad weather in Istanbul and the rotation of staff in the Joint Coordination Center (JCC).
Meal to the EU is unprofitable
In October, Ukraine increased exports of sunflower meal by 10% compared to September to the largest since the beginning of the war, 390 thousand tons, of which 224 thousand tons were purchased by China. However, in November, the export of meal slowed down, which complicated the work of processors, since oil can be shipped towards the western borders, while it is very unprofitable to supply meal to the EU.
Purchase prices
The purchase prices for sunflower in Ukraine for the week increased by another 500 UAH /t to 16-16.5 thousand UAH / t or 440-450 $ / t with delivery to the plant. At the same time, export prices for sunflower with delivery to DAP – Romania, Hungary, and Bulgaria remained at the level of 550-570 $ /t under the pressure of falling prices for soybeans and rapeseed in the EU. Queues of 7-10 days at the crossing points with Romania and Bulgaria have reduced the activity of deliveries in this direction.
According to the European Commission, during the week of November 13-20, EU cranes increased sunflower imports by 13 thousand tons to 77 thousand tons, and in total in 2022/23 MG imported 1.16 million tons, which is 6.7 times higher than the same period last year – 172.7 thousand tons. Almost 86% of this volume or 1 million tons was purchased in Ukraine.
Shortage of raw materials?
This year, Ukraine has harvested only 9.8 million tons of sunflower, so there will be a shortage of raw materials in the second half of the season, although the main processing plants located in the Black Sea ports have practically not been operating since the beginning of the war.
Snow and frost
The global sunflower oil market is supported by the delay in sunflower harvesting in Russia, where, as of November 24, 13.3 million tons (out of the projected 16.5 million tons) of sunflower with a yield of 1.81 tons/ha were harvested from 7.3 million hectares or 75% of the area, while last year at this time 9.6 million hectares were harvested 15.4 million tons with a yield of 1.61 t/ha. Now snow and frost have stopped the work.
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