Sunflower prices joined sunoil price drop

The procurement prices for sunflower in Ukraine collapsed by 800-1000 UAH/t to 9400-9800 UAH/t with delivery to the plant, following the prices for sunflower oil, Grain Trade reports.

According to experts, processors have significant reserves of raw materials, so they do not rush to buy seeds at high prices amid the uncertainty with export prices for sunflower oil.

Demand prices for April deliveries of Ukrainian sunflower oil fell to 650-660 USD/t FOB, while the supply prices remain high at 670-680 USD/t FOB, and for deliveries to India at 720 USD/t CIF, 50 USD/t more from the supply prices of Argentinean soybean oil.

Pursuant to the report, WHO's announcement of COVID-19 as a global pandemic fuelled panic in global financial and commodity markets, with the Dow Jones index down by 5.3%, S&P500 down by 4.4%, Nasdaq down by 4.7% and Brent down by 4.3% to 34.3 USD/bbl.

Previously reported that the sharp drop in global indicators amid fears of a potential recession at the beginning of the week and further weakening demand for grains due to the continued spread of coronavirus led to a decline in export quotations for grains in the Black Sea region.