Sunflower Oil Price Trend: News, Index, Analysis and Demand

Key Insights on the Sunflower Oil Prices Trend:

Sunflower Oil Price Trend is experiencing notable growth, driven by strong demand across multiple sectors and ongoing supply chain challenges. The rising consumption in food processing, biodiesel production, and a shift toward healthier cooking oils are key factors behind this demand. Geopolitical tensions, particularly in major sunflower-producing regions, have contributed to supply uncertainties, further complicating market stability. Environmental factors, such as poor weather conditions affecting crop yields, have also strained the supply chain. Additionally, the increasing prices of alternative edible oils have made sunflower oil a more appealing option, leading to further price increases. Low inventory levels and sustained high demand have created a favorable pricing environment, suggesting continued upward pressure on sunflower oil prices.

Sunflower Oil Prices Second Quarter 2024:

• United States: 959 USD/MT
• China: 1032 USD/MT
• Ukraine: 944 USD/MT

Factors Affecting Sunflower Oil Prices Across Regions:

In North America: In Q2 2024, sunflower oil prices surged due to strong consumer demand in both industrial and household markets. Supply constraints, driven by low inventory and geopolitical tensions, significantly impacted the market. Ongoing conflicts in key producing regions disrupted supply chains, leading to higher transportation costs and longer delivery times. Additionally, warmer-than-average spring temperatures increased storage costs, further pushing up prices.

In the APAC Region: The second quarter of 2024 saw a sharp rise in sunflower oil prices, fueled by strong demand across both traditional and emerging markets. Persistent disruptions in supply chains, particularly from the Black Sea region, added to market pressures. Rising freight costs further exacerbated the pricing situation. In China, demand from the food processing and biodiesel industries surged, with the appreciation of the US Dollar against the Chinese Yuan increasing import costs. Seasonal demand spikes and limited inventories worsened the supply-demand imbalance, maintaining a positive pricing outlook.

Europe Regions Sunflower oil prices in Europe rose significantly in Q2 2024, driven by supply shortages and high demand. Adverse weather, including heavy rainfall and frost in key producing regions like Ukraine, severely affected crop yields, limiting the availability of sunflower seeds. Geopolitical tensions, particularly Russia’s invasion of Ukraine, further disrupted supply chains and increased production costs. The rising appeal of sunflower oil compared to other vegetable oils also spurred import demand. These factors combined to create a persistent supply-demand imbalance, resulting in notable price hikes and a positive market outlook across Europe.

Regional Price Analysis:

• Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand
• Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece
• North America: United States and Canada
• Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru
• Middle East & Africa: Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco

Note: The current country list is selective, detailed insights into additional countries can be obtained for clients upon request.

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Imarc Group is a global management consulting firm that helps the world’s most ambitious changemakers to create a lasting impact. The company provides a comprehensive suite of market entry and expansion services.