Ukraine expects a drop in sunflower seed prices if world market sunflower oil prices fall

Ukraine expects a drop in sunflower seed prices if world market sunflower oil prices fall

MOSCOW. October 22 (Interfax) – Ukrainian farmers have harvested sunflowers from almost 91% of the planned harvest area, but the supply of oilseeds to the market remains limited as farmers are reluctant to sell products, causing prices to rise, Ukrainian media said. , citing the information and analysis agency APK-Inform.

“Farmers’ reluctance to sell commodities in anticipation of new price peaks, together with rising sunflower oil export prices, contributed to a further increase in oilseed prices,” they say the agency’s analysts.

Although processing companies managed to buy sunflower at UAH 24,400/25,000 per tonne CPT, there were also much higher prices on the market, which were named by raw material owners individually, they said.

“The sunflower seed market is already overheated to a fairly serious degree, but it still lacks the support of the sunflower oil market. However, if the price trend in the market reverses of sunflower oil, commodity prices are likely to fall as well,” they said.