Sunflower oil prices soar: the reason is drought in Ukraine and Europe

According to hvylya.net: Sunflower oil prices have increased due to harvest problems. According to Bloomberg, the price rise is associated with justified fears of a poor harvest in Ukraine and reduced production in Europe.

It is forecasted that sunflower yield in Ukraine will be lower than the average over the last five years due to dry conditions, especially in the southern part of the country. The same situation is observed in other European countries, where a decrease in production of this crop is also noted.

France, a leading producer of sunflower oil, expects a production decrease of 15% compared to the average level of the last five years.

Analysts warn that Europe may witness the weakest sunflower harvest in the last decade, which has already led to an increase in sunflower oil prices at French ports and Ukrainian market prices.

General concerns about production in the 2025-26 seasons are becoming evident because Ukraine and the EU together account for about 40% of global sunflower production.

According to a representative of Strategie Grains, the first sunflower harvests in Europe remain low, but there is a possibility of unforeseen situations from late crops.

Overall, sunflower harvest problems have impacted the rise in sunflower oil prices in both Ukraine and Europe, which may significantly affect the market in the near future.