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December 25 2013, 14:30 Source: APK-Inform Views: 446

Ukraine: export prices for sunflower oil continue declining – Derzhzovnishinform

The high supply of sunflower oil, increasing of the forecast for international production of sunflower seed, weakening of the market of soybeans and tropical oils - all these factors provide rather strong pressure on the world market of sunflower oil, declared the State Enterprise National Research and Information Center for Monitoring International Commodity Markets (hereafter – Derzhzovnishinform) on December 23.

According to the announcement, the Egyptian tender, held on December 18, 2013, became the prerequisite for reducing the price of sunflower oil in Ukraine. At the tender Egypt purchased 43 thsd tonnes of sunflower oil at the price of 894.99 USD/t (C&F). At the same time at the previous Egyptian tender dd. December 11, the price of sunflower oil totaled 914.44 USD/t (C&F).

Weakening of the Western European market of sunflower oil provided the negative impact on the export sector of Ukraine. As of December 18, the range of export prices for the specified product on the terms FOB-Black Sea ports varied within 865 USD/t (bids) - 880 USD/t (offer) with delivery in January-February of 2014.

To date the domestic bid prices for crude sunflower oil vary within the range of 7400-7600 UAH/t, while the producers declared selling prices at the level of 7600-7700 UAH/t, EXW.

The experts of Derzhzovnishinform expect in the nearest future the prices on the oilseeds market will continue declining.

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