Sunflower oil prices fall on expectations of good harvest
Global sunflower oil prices continue to decline amid expectations of a good harvest, Sunstone Brokers co-founder and partner Serhii Repetskyi told Latifundist.com.
According to him, the forward price curve for sunflower oil is showing a sharp decline of about $25/ton from one delivery month to the next, equivalent to nearly $1/ton per day.
“Buyers are beginning to plan their purchases very carefully, as even delaying a purchase by 15 days could result in savings of around $10/ton,” the expert said.
Meanwhile, in the Indian market, the spread between sunflower and soybean oil prices stands at $300/ton for September deliveries and $250/ton for November deliveries, encouraging importers to increase soybean oil purchases.
Repetskyi said major Russian exporters had redirected oil shipments to Asian countries via the Baltic region.
In the European market, the spread between sunflower and rapeseed oil prices is gradually narrowing. This could support demand for sunflower oil, the expert said, while demand for rapeseed oil is already beginning to slow somewhat.
The reliability of contract fulfillment and timely shipments remain the main concern for buyers.
