Price frenzy: sunflower prices reached historical highs

Purchase prices for sunflower in Ukraine continue to rise as processors have managed to successfully sell oil and now need to meet raw material demand. However, farmers should hurry considering the trend of decreasing prices in neighboring soybean and rapeseed markets, reports the Electronic Grain Exchange of Ukraine.

Last week, in Ukraine, prices for sunflower with an oil content of 50% increased by another 200-300 UAH/ton to 26500-26800 UAH/ton or 555-565 USD/ton excluding VAT with delivery to the plant against the backdrop of a rising dollar exchange rate and prices for sunflower oil. Export prices for sunflower oil in Ukraine are holding at 1100-1110 USD/ton with delivery to Black Sea ports, but there is an increase in the offer prices of Russian oil to 1130-1150 USD/ton FOB.

Amid rising sunflower prices in Ukraine due to oil demand and a rising dollar exchange rate, farmers are advised to trade cautiously and consider competition in the global market, particularly with Russia.