After the increase in export prices for sunflower oil and meal, domestic processors began active purchases of sunflower, which led to an increase in purchase prices, especially given the restraint of sales by producers. According to GrainTrade, during the week these purchase prices increased by 300-500 hryvnias per ton, to 16,700-17,000 hryvnias per ton (including VAT) ex-factory, which is the highest level since March 2023.

Processors, wanting to accumulate more raw materials, pay a premium for large batches of sunflower and reduce the processing margin to a minimum level. Sunflower prices are expected to continue to rise, even in the event of a possible decline in oil export prices.

Sunflower oil export prices remain at $780-790 per ton delivered to Black Sea ports due to lower demand from China and India and increased competition from Russian oil.

Sunflower meal prices rose to $195-205 per ton with delivery to Black Sea ports, which further supports sunflower prices.

The average price of sunflower oil delivered to customers fell 0.7% to $851 a tonne, but soybean and palm oil prices continued to rise, according to Trading Economics.

Sunflower export prices remain at $325-340 per ton delivered to Black Sea and Danube ports and $430-440 per ton at DAP Bulgaria.

Sunflower sowing rates are higher than last year, and weather conditions favor the development of crops, so the area planted may increase due to a reduction in the area under corn, which will increase the pressure on prices for the new crop.

The early maturity of canola will allow processors to begin processing it earlier, which will reduce demand for old-crop sunflowers in June and July.