Ukrainian sunflower oil export prices rose by $20-23 per tonne over the last week thanks to a jump in demand from abroad, APK-Inform agriculture consultancy has said.
Ukraine is the world's biggest sunoil exporter and sunoil bid prices rose to $770-780 FOB Black Sea as of 22 June for delivery in July-August, versus $750-760 a week earlier, the consultancy said in a report. The asking prices rose to $785-795 from $765-772, it said.
APK-Inform has forecast Ukraine will produce 6.7 million tonnes of sunoil in the 2019/20 season and may increase output to nearly 6.9 million tonnes in 2020/21 due to a higher sunflower seed harvest.
The consultancy this month lifted its forecast for Ukraine's sunflower seed output in 2020 to 16.0 million-16.2 million tonnes, from a previous estimate of 15.5 million tonnes.