18 June 2021, Friday, 18:18 229

Export Prices For Ukrainian Sunflowerseed Oil On FOB Fell To 6-Month Low – USD 1,100 Per Ton On June 17 - Refinitiv

Редактор: Daria Zubkova

Export prices for Ukrainian sunflowerseed oil on the FOB Chornomorsk basis (delivery on board in Chornomorsk) on June 17 compared to June 16 fell by 13.8-14.4% to USD 1,060-1,070 per ton (up to 6 -month minimum).

This is stated in the report of the analytical platform Refinitiv, Ukrainian News Agency reports.

"Export prices for crude sunflowerseed oil from Ukraine plummeted on June 17, 2021, when supply prices lost about USD 100 per ton in one day. Extremely low external demand combined with lower prices for soybean oil led to a drop in prices for Ukrainian sunflowerseed oil to a 6-month low," the statement reads.

Thus, offers for the supply of Ukrainian sunflowerseed oil fell to USD 1,140-1,170 per ton on FOB on June 17, compared to USD 1,230-1,250 per ton the day before.

At the same time, according to the platform data from sources, the offer prices fell even lower - to USD 1,060-1,070 per ton on FOB, trying to attract consumer interest.

It is recalled that in March 2021, prices for sunflowerseed oil in Ukraine reached a 5-year high of USD 1,700 per ton on FOB.

It is noted that external demand for sunflowerseed oil in recent months has been very low due to extremely high prices.

According to the statement, offers for the supply of sunflowerseed oil from Ukraine increased during May-June, as there were a large number of sellers on the market.

Refinitiv stated that the stocks of sunflowerseed oil in Ukrainian ports are about 400,000 tons, which also influenced prices, given the extremely low export interest.

As Ukrainian News Agency earlier reported, prices for Ukrainian sunflowerseed oil on the basis of CPT (transportation paid to the final destination) fell by 17% to USD 1,270-1,280 per ton as of June 3 compared to May 20.

A month after the signing of a memorandum between the Ministry of Economic Development, Trade and Agriculture and market participants on setting the maximum volume of sunflowerseed oil exports in the 2020/2021 marketing year (September 2020 - August 2021), the wholesale price for it fell by 1% to UAH 51,500 per ton, and retail grew by 4.5% to UAH 66.7 per liter.

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