All actors of the market are following the
progressive strengthening of sunflower seed prices. Of course, on one hand,
sunflower prices are also taking profit form the positive trend seen for
soybeans in Chicago. On the other hand, sunflower prices are increasing in the
wake of a strong rebound of the sunflower oil prices observed during last two
weeks on CIF India.
The largest global sunflower oil importer
has decided to introduce higher import tax on vegoils with immediate effect.
The impact on prices was not long in coming. Buyers indication for sunflower
oil on CIF India basis were shown on Friday 27 September at 1110-1115 USD/MT
(+50 USD W/W). In Rotterdam, the European hub for vegoils, has followed with a
+30 USD per week increase up to 1080 USD/MT buyers (with some cooling at the
end of the week).
Buyers ideas for Ukrainian sunflower oil on FOB basis were catching up Indian trend, growing by 60 USD to 1025 USD/MT.
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