The US refined sunflower oil price was recorded at 1493 USD/MT. Domestic demand for this oil has surged in recent years as a result of food producers’ widespread use of it for frying and cooking. In addition, an increasing number of companies in the area were investing in large food processing plants.
How did sunflower oil prices perform in the fourth quarter?
Sunflower Oil prices were stable on the whole, averaging 15,000 RMB/MT towards the end of September. Furthermore, the price trendss weakened during the fourth quarter as new supplies came from Ukraine whereas the demand for the product kept low in the domestic market. Sunflower oil prices witnessed a declining pattern during the said period.
Is sunflower oil price trending southward?
Overall, the price trendss for sunflower oil remained southward throughout the said period. According to Procurement Resource, the Sunflower Oil market is expected to continue to decline for some time, given the overstocked inventories and stable demands.
How did the North American sunflower oil market react to global depreciation?
The North American Sunflower Oil market too followed the global depreciating price trendss. Prices continued to decline throughout both quarters. As the freight got cheaper and the crude oil prices stabilized, upstream refining costs declined continuously, adding to the overall cost pressure.
