Ukraine sunoil export prices extend rally
- The move is caused by both an increase in the cost of production...and a significant increase in quotations of vegetable oils and oil on international markets.
- The consultancy has increased its forecast for Ukraine's sunoil production and exports for the 2020/21 season to 6.219 million tonnes and 5.780 million tonnes respectively.
KYIV: Ukrainian sunflower oil export asking prices added $75-$85 per tonne over the past few days, jumping to as much as $1,315 per tonne FOB Black Sea, analyst APK-Inform said on Wednesday.
"The move is caused by both an increase in the cost of production...and a significant increase in quotations of vegetable oils and oil on international markets," the consultancy said in a report.
It said that soybean purchase prices also increased by $10 - $15 and reached $485 - $545 per tonne CPT (carriage paid for) Black Sea as of January 6.
APK-Inform said this week sunoil export prices for January-February delivery had risen by 9% since early December, buoyed by stable demand from exporters and stood at $1,210 - $1,220 FOB Black Sea as of January 4.
The consultancy has increased its forecast for Ukraine's sunoil production and exports for the 2020/21 season to 6.219 million tonnes and 5.780 million tonnes respectively.
Ukraine produced 7 million tonnes of the commodity in the 2019/20 season and exported 6.632 million tonnes.
Comments
Comments are closed for this article.