Sunflower prices in Ukraine have fallen by 200-500 UAH/ton over the week – to 27,400-28,500 UAH excluding VAT. The reason is the collapse in the price of palm oil on the global market and an increase in supply within the country, reports the Electronic Grain Exchange of Ukraine.
Over the month, palm oil has decreased in price by 10%, and demand for Ukrainian sunflower oil has dropped by another 10-20 $/ton per week. In India, the price difference between sunflower and palm oil has reached 200-220 $/ton, prompting processors to switch to the cheaper palm oil.
As of November 6, 8.729 million tons of sunflower have been harvested from 90% of the planned area (4.61 million hectares) with a yield of 1.89 tons/hectare. Last year, 9.684 million tons were harvested from 95% of the area with a yield of 2.06 tons/hectare. Due to excessive rainfall in the west, part of the harvest has been lost – the total collection is estimated at 10-10.5 million tons compared to 11.5 million tons last year.
According to forecasts from the European Commission, EU countries will grow about 8.5 million tons of sunflower in 2025 – 3% more than in the non-harvest year of 2024.
In the coming weeks, the market expects the completion of harvesting in the Black Sea region, and prices will depend on updated supply and demand balances.
