Sunflower Prices Drop to $370-390 per Ton Due to Factory Shutdowns

Russian shelling of Odesa and Black Sea ports has led to a halt in the purchase of old crop sunflowers and a decrease in forward prices for the new crop to $370-390 per ton. Sunflower processing in Ukraine has virtually ceased, with purchase prices for the old crop dropping by 2000-4000 UAH/ton to 25000-27000 UAH/ton. Export prices for sunflower oil delivered to Danube ports remain at $1320-1335 per ton, while prices for oil delivered to the EU have decreased to $1280-1230 per ton due to an increase in the supply of Ukrainian rapeseed oil. Domestic factories received price offers of 20000-21500 UAH/ton with delivery and have formed processing programs by the end of autumn. Forward prices for the new sunflower crop are set at 19000-20000 UAH/ton including VAT. Ukrainian Armed Forces' retaliatory strikes on Russian Black Sea ports may limit Russian exports, which would increase global prices and demand for Ukrainian products. A sharp decline in sunflower and rapeseed prices is not expected, as farmers continue harvesting and seek alternative supply routes.

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