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Sunflower oil market trend (March 12-19, 2020)

Global vegetable oil market was still in a downtrend last week. Prices and quotes for all basic oils have fallen. The fall took place against the backdrop of the strengthening of the US dollar, another collapse in crude oil quotes, and also under the pressure of fears of a recession in the global economy due to the spread of coronavirus. The decline was supported by declining demand for biodiesel worldwide.

Export market of sunflower oil in Ukraine during the reporting period significantly weakened in price terms again. Prices fell by about USD33/t for the reporting period. By the end of the reporting time, export prices for crude sunflower oil from Ukraine were in the range of USD630–645/t, FOB, ports of the Black Sea for deliveries in Apr/May/Jun.

Prices for crude sunflower oil in India for the reporting period have declined by USD10/t and by the end of the reporting period Ukrainian crude sun oil demand/offer prices (CIF, Indian sea ports) were:
 - USD700–720/t, CIF, Apr/May/Jun shipments;
 - USD710–730/t, CIF, Jul/Aug/Sep shipments.

20.03.2020

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