Since the beginning of 2020, there has been a significant jump in prices: $ 400-470 per ton.
Over the past month, the price of sunflower oil has increased on average by $ 200 and is $ 1100 per ton FOB Russia.
Many factors have influenced the rise in the cost of all types of oils:
- Countries have significantly reduced stocks amid Covid-19, and now they are replenishing
- China has significantly increased purchases of soybeans
- Brazil delayed planting season
- Russia and Ukraine received harvests lower than last year
- The price of oil has increased and, in a way, it has stabilized
- Falling dollar rate against world currencies
And the trillions of dollars that were poured into the US economy and through investors and various funds entered the stock exchanges and were invested in stocks and commodities, gave a noticeable additional impetus to growing quotations.
In Russia, the selling price for sunflower oil was set at 37-40 thousand rubles. per ton, excluding VAT.
Given the current situation with quotations on world markets, and taking into account the existing purchase prices for sunflower, analysts expect a possible increase in the cost of wholesale purchases up to 79-88 thousand rubles. per ton, excluding VAT.
Russian sunflower oil is currently the cheapest in the world, and producers will be able to maintain it only if prices for raw materials stabilize.
Since the beginning of the export season, the sale of seeds abroad has grown 3.7 times compared to 2019.
Manufacturers strive to export raw materials to the maximum, because the sale price abroad is higher than what domestic processors offer.
Sunflower harvesting in Russia is coming to an end: farmers have to harvest 1.1% of crops.
Gross harvest is 13.2 million tons, 1.8 tons less than last year.
Taking into account that, according to various forecasts, the harvest will be below the level of 2019, analysts assume that the price of sunflower oil will be in the range of $ 1100-1200 per ton FOB.
