Sunflower Oil Prices Plummet on Anticipated Bumper Harvest

Global sunflower oil prices are falling due to expectations of a good harvest, according to Sunstone Brokers co-founder and partner Serhii Repetskyi.

The forward price curve for sunflower oil is showing a sharp decline of about $25/ton from one delivery month to the next, equivalent to nearly $1/ton per day, Repetskyi said.

In the Indian market, the spread between sunflower and soybean oil prices stands at $300/ton for September deliveries and $250/ton for November deliveries, encouraging importers to increase soybean oil purchases.

Major Russian exporters have redirected oil shipments to Asian countries via the Baltic region, Repetskyi noted, while in the European market, the spread between sunflower and rapeseed oil prices is gradually narrowing, which could support demand for sunflower oil.