Price Trends
The Vesper West EU Forward Price Index for Crude Sunflower Oil decreased to €870 | $950 per metric tonne (FOB 6Ports (FOSFA 52), Jan-Feb-Mar) as of December 18, 2023, down from €887 | $955 the previous week, see Figure 1. The decline is attributed to sluggish demand.
Figure 1: Vesper Forward Price Index Positions for West-EU Crude Sunflower Oil
Market Responses
In Ukraine, sunflower oil producers are withholding sales due to low prices and poor profit margins, which may support prices in the future.
Logistical Disruptions
Protests near the Polish border at Dorohusk, involving carriers and farmers, have led to longer delivery times and higher costs for EU shipments. Meanwhile, the Ukraine-Slovakia border has seen some easing of tensions.
Political Moves
Turkey, Romania, and Bulgaria plan to sign a demining agreement for the Black Sea on January 11, 2024, potentially impacting regional trade routes.
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