According to APK-Inform, the export prices of Russian sunflower oil were mainly declining in April.
Problems with payment and sharp increase of freight rates pressured the prices. Weak demand from most of key importers weighted on the prices too, as the buyers preferred to purchase soybean and palm oils.
However, reserved farmers’ sales and the introduction of export quotas on sunflower oil restricted the development of the downward price trend. Turkish tender in early April and Indian purchase of Russian sunflower oil at record high price supported the Russian market too, but these factors failed to offset the pressure.
By the end of April, the offer prices of crude sunflower oil had decreased by more than 20 USD/t. As of May 2, the prices totaled 1959-2010 USD/t FOB (May). The bid prices decreased by 90-100 USD/t to 1870-1915 USD/t FOB.
Follow our newswire to stay informed about further development of Russian market of sunflower oil. More detailed information is available for those subscribed at our weekly reports.
