Prices for new crop sunflower are formed in Ukraine

In the southern regions of Ukraine, the first sunflower cuttings have begun, in this regard, the market is gradually switching to trading in a new crop of sunflower, for which there is both demand and decent prices. This was announced on August 22 by experts from the analytical center of the PUSK cooperative, created within the framework of the All-Ukrainian Agrarian Rada, the press service of the VAR reported.

     “The new sunflower crop is already being traded on FOB and CIF basis, in particular, recently Italy bought a batch of Ukrainian oilseed in a thousand tons at a price of $465 per ton. Processors are already voicing prices at $370 per ton without VAT, it can be expected that purchase prices in August-September will be in the range of UAH 14,500-15,000/t,” the analysts noted.

It is also reported that high air temperatures and lack of precipitation are predicted in Ukraine in the near future, which will contribute to the harvesting campaign, so that the supply of sunflower will grow.

     “Accordingly, if there is no significant rainfall, then in mid-September we can expect the traditional decline in prices by 1000-1500 UAH/t - the price tags will drop to 12-13 thousand UAH/t under the pressure of harvesting. But in November-December, the range will increase to 17-18 thousand UAH/t. The seasonal model as a whole shows an upward trend in prices,” experts predict.

They also added that this level of purchase prices for Ukrainian sunflower will support the global growth in prices for vegetable oils on the world market.