The FINANCIAL — After many years of strong demand trends, in 2015/16 MY the oilseed market of Ukraine will enter the period of offer dominance and lowering of the prices, declared the Association Ukroliyaprom on June 26, according to APK Inform.
Also, it is noted that in 2014/15 MY Ukraine faced some decline of sunflower oil production and exports, compared with 2013/14 MY, due to reduction of sunflower seed production volumes by almost 1 mln tonnes, and curbing of the oilseed sales by agricultural producers and traders.
In addition, in 2014/15 MY Ukraine faced the unique situation when in terms of the sharp rise of prices for sunflower seed by 3500 UAH/t to 10000-11000 UAH/t, the export prices for sunflower oil and meal declined.
During many recent years, petroleum prices varied at the historically high levels, but they sharply fell, and to date, they do not exceed 65 USD per barrel. Taking into account the foreign currency fluctuations and weak economic growth in some major developed countries, then there is every reason for uncertainty about the price situation on the world market of vegetable oils, informed the Association.
According to forecasts of Ukroliyaprom, in 2015/16 MY the production volumes of sunflower seed and sunflower oil will almost match the levels of 2014/15 MY.