Sunflower Oil Prices, Pricing, Demand & Supply, Market Analysis | ChemAnalyst

Chemanalyst10 Oct, 2023Business

In the North American region, Sunflower Oil prices mirrored the market trend observed in Europe during the second quarter of 2023. The prices experienced a continuous decline since the beginning of the year, and market sources anticipated this downward trend to persist throughout the quarter. Factors contributing to this trend included the high stocks of sunflower oil in the region, ample supply from European buyers, and the elimination of export duties due to Russia's cessation of the Black Sea grain deal, leading to reduced exports from Ukraine, a major producer. The average dip in Sunflower Oil prices by the end of June exceeded 7 percent. Towards the close of June, changing climatic conditions further impacted import momentum, contributing to the weakened price trend. Economic concerns, such as rising interest rates, also exerted downward pressure on Sunflower Oil prices