Export prices of Russian sunflower oil declining – APK-Inform

Source

APK-Inform

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According to APK-Inform, the export prices of Russian sunflower oil continued decreasing last week.

Weak demand from the key importers pressured the prices. Traditional consumers preferred to buy alternative vegetable oils from other countries, as the prices of Russian product were too high as well as freight rates for the Black Sea, along with low number of vessels willing to enter the risk area. Sanctions on Russian banks added problems to payment for Russian sunflower oil. At the same time, the number of offers from producers were high, and there were no notable problems with sunflower seed purchases for processing. Stronger ruble limited the development of the downward trend.

Last week, the offer prices of crude sunflower oil decreased by 95-110 USD/t to 1805-1845 USD/t FOB (June-July).

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