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Ukrainian sunflower oil prices for September and October delivery have fallen to $1,170-1,190 per tonne, with delivery to Black Sea ports, against a backdrop of increased sunflower seed supplies. The information was reported by analysts at GrainTrade.
"We now also expect a decline in sunflower oil prices in Ukraine, and consequently a decline in sunflower seed prices," the analysts said.
The drop in rapeseed prices in Ukraine, caused by the halt in exports, has boosted processing margins for the crop, prompting plants to increase their rapeseed crushing plans at the expense of sunflower seed. Sunflower seed prices currently range between 27,000-28,000 Ukrainian hryvnia per tonne, or $575-600 per tonne excluding VAT, compared with rapeseed prices of 23,000-23,500 hryvnia per tonne, or $490-500 per tonne excluding VAT.
Ukrainian rapeseed oil prices are currently significantly lower than those in the European Union, prompting processors to step up deliveries. EU rapeseed oil prices fell by $10 per tonne to $1,245-1,250 per tonne (FOB Netherlands) for September delivery.