Sunflower Oil Rises as Rapeseed and Palm Oil Prices Fall
European vegetable oil markets are experiencing divergent trends, with sunflower oil prices rising while rapeseed and palm oil prices fall. Rapeseed oil (RSO) prices weakened due to losses in Paris rapeseed futures and pressure from the Canadian canola market. In contrast, sunflower oil (SFO) prices remained supported despite expectations of ample global supply and uncertainty around Black Sea logistics.
The price of RSO on an FOB Dutch Mill basis fell by €13 per tonne to €1,223 per tonne over the week ending September 17. This decline was attributed to bearish movements in the wider soft oils complex. Meanwhile, SFO prices rose to $1,391 per tonne from $1,381 per tonne despite a broadly bearish fundamentals backdrop.
Expectations of strong global sunflower seed availability continue to weigh on the market, with Ukraine entering the new season with higher seed availability and increasing harvest supplies. Black Sea logistics remain uncertain due to ongoing attacks on energy and export infrastructure, which may prompt buyers to seek alternatives.