Ukraine's oilseed producers are overwhelmed with raw materials, which has led to a collapse in domestic purchase prices for sunflower seeds. According to analysts, the sunflower market will pass the "price bottom" in early October.

This was discussed on September 12 during a weekly briefing organized by the analytical center of the agricultural cooperative PUSK, created within the UAC.

"In the middle of the country, processing plants began to collapse sunflower prices, as they have contracted the necessary volumes of raw materials for September. There are plants that are stocked with oilseeds for a month ahead, while others are stocked for 1-2 weeks. Accordingly, the processors will buy the raw materials in a wide price range of 10,500-12,500 UAH/ton. We can expect that the market will see the lowest prices in the first weeks of October," the analytical department of PUSK cooperative predicts.

Despite the ban on imports of the Ukrainian oilseed to 5 neighboring EU countries, which is expected to be lifted on September 15, sunflower is being contracted to Bulgaria.

"Ukraine has signed a lot of contracts for sunflower oil supply to Bulgaria. Although the second one has not officially announced the upcoming lifting of the ban on imports of Ukrainian grain, the trade in this direction is very active," PUSK said.

According to the analysts, some decline in the prices of vegetable oils on the global market will also support the current downward price trend on the Ukrainian sunflower market.

Wednesday, 13 September 2023


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