According to consultancy APK-Inform, global sunflower oil production is expected to decline in the 2024/25 season due to a significant reduction in sunflower seed output. This situation has already had at least a partial impact on current prices.
On October 1, the price of sunflower oil in Rotterdam was quoted at a premium of $29 per ton over soybean oil, compared to an average discount of $223 per ton in October 2023.
Compared to the previous two years, there is uncertainty about the scale of sunflower and sunflower seed harvests in Eastern Europe, Ukraine, and Russia, and farmers are slowing down the sale of their control to crushers, offsetting the seasonal supply pressure.
According to APK-Inform's monitoring data, as of October 2, the CPT price of sunflower oil at Ukrainian ports has risen to $970-$1,000 per ton, averaging a 20-dollar-per-ton increase over the previous week.
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