The price of Ukrainian sunflower seeds decreased on the week on May 30, according to a producer, with values seen at Hryvnia 12,500-13,200, including VAT, on a CPT plant basis. The neighboring countries have historically been major consumers of Ukrainian sunflower seeds exports.ĭomestic prices for sunflower seeds saw a slow decline during May, according to market sources, with pessimism fueled further by the EC's potential decision to extend the ban beyond its expiry date. On April 28, the European Commission imposed a ban until June 5 on the export of Ukrainian sunflower seed, rapeseed, wheat and corn to Poland, Hungary, Bulgaria, Romania and Slovakia after a series of complaints and unilateral restrictions from them. "Danube ports are more efficient for freight and insurance, but still very limited," a market participant said.įoreign policy limits sunflower product exportsĮxternal policies also weighed on Ukrainian sunflower oil prices, as key destinations for both oil and oilseeds attempted to limit cheap inflows to protect domestic industry. Producers remained restricted as slower Odessa port operations and shifts towards the Danube ports limited their reach towards destinations such as India and China, while buy options remained wide amid low rapeseed oil prices and Russian availability. "With Pivdennyi blocked, its uncertain how many purchases we'll see." "The question for buyers is how will the corridor work, the same as last month or better" a trader said. Market demand for Ukrainian shipments weakened in response, with trades for Russian origin product on a CIF Turkey basis reflecting a shift towards more secure transportation routes for some consumers. The ongoing blockage of Pivdennyi is a suspected retaliation by Russia over the obstruction of its nearby ammonia pipeline, with continued impediment since April 29 reducing market optimism regarding grain corridor operations. The 60-day extension of the Black Sea Grain Initiative confirmed on May 18 did little to relieve downwards pressure on sunflower oil prices, as the European market remained heavy on stocks purchased on a prompt basis prior to the deal's renewal.ĭifficulties for exporters continued in the immediate aftermath, with the port of Pivdennyi - one of the three ports covered by the agreement - remaining inactive, in the absence of approvals for incoming ships. Platts assessed sunflower oil FOB Black Sea Ukraine at $689/mt as of June 2, with value reaching the lowest level since early May 2020, amid problematic shipping conditions and a slump in global demand.īlack Sea grain corridor operations remain hindered Receive daily email alerts, subscriber notes & personalize your experience.
0 Comments
Leave a Reply. |
AuthorWrite something about yourself. No need to be fancy, just an overview. ArchivesCategories |