Export prices for sunflower oil from Ukraine continued to rise sharply and reached $ 1,680 – $ 1,700 amid recovery in oil prices and growing concerns about the soybean crop in South America.
Bid prices for the supply of oil in the April-June period exceed $ 1,700 per tonne on FOB basis and $ 1,680 per tonne on CPT basis, Refinitiv Agriculture reports.
In the current 2020/21 season (which began in September 2020), sunflower oil prices are rising amazingly. Last week, export quotations for crude sunflower oil from Ukraine increased by almost $ 100 per ton FOB, since the beginning of 2021 the growth has already increased by $ 500 per ton. And since the beginning of the 2020/21 season, a ton of sunflower oil has grown by more than $ 800.
The sharp rise in oil prices and the limited supply of raw materials on the domestic market forces Ukrainian exporters to take a cautious stance.
“The butter market is very unpredictable,” one Ukrainian trader commented on the situation.
Recall that at the end of the 2019/20 marketing year (September 2019 – August 2020), Ukraine not only retained the title of the main exporter of sunflower oil in the world, but also set a world record in terms of export volume – 6,680,000 tons.
At the end of 2019, Ukraine exported sunflower oil in the amount of $ 4.3 billion (in 2018 it was 4% more) and meal by $ 975 million (in the year before last, this figure was 11% less).