Sunflower Oil Prices: News, Historical And Forecast, Database | Procurement Resource

During the initial six months of 2023, Sunflower Oil prices in Asian markets witnessed a consistent decrease, primarily driven by an oversupply situation and enhanced market accessibility for Ukrainian oil as a result of the Black Sea agreement. Despite a stable level of demand, market sentiment turned bearish. Similarly, the European and North American markets experienced analogous price trends, marked by declining prices in both regions, primarily attributed to an abundance of supplies and escalating inventories. The availability of more affordable exports to Asia and reduced refining expenses contributed significantly to the overall downward pressure on prices. Throughout this specified period, Sunflower Oil prices in these regions displayed a continuous and persistent downward trajectory.

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Definition

Sunflower oil is a type of vegetable oil extracted from sunflower seeds. It is commonly used in cooking and food preparation due to its mild flavor and high smoke point. The oil is rich in unsaturated fats, particularly linoleic acid, and is known for its health benefits, such as promoting heart health and lowering cholesterol levels.

Key Details About the Sunflower Oil Price Trend:

Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on Sunflower Oil in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.

Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as Excel files that can be used offline.

The Sunflower Oil Prices, including India Sunflower Oil price, USA Sunflower Oil price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.

Industrial Uses Impacting the Sunflower Oil Price Trend:

Price-TrendSunflower oil serves a wide range of industrial purposes, including cooking, frying, and baking. Additionally, it plays a crucial role in the manufacturing of margarine, salad dressings, and various cosmetic products such as soaps and lotions. Moreover, it finds utility in the pharmaceutical sector, where it is utilized in the production of specific medications and dietary supplements.

Key Players:

  • EFKO Group
  • ASTON JSC
  • Cargill Incorporated
  • Optimus Agro
  • Adams Group

News and recent developments:

India’s sunflower oil imports are expected to decrease in the coming months due to rising prices after Russia withdrew from the Black Sea grain deal. This move would make sunflower oil less competitive against rival oils, leading India to increase purchases of palm oil and soyoil. The expiration of the Black Sea export deal could result in a 30% drop in sunflower oil shipments to India, causing imports to fall to around 200,000 tons from August, compared to the typical 250,000 tons per month. Ukraine traditionally accounted for a significant portion of India’s sunflower oil imports, but Russia became the largest supplier in the previous marketing year.

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Procurement Resource offers in-depth research on product pricing and market insights for more than 500 chemicals, commodities, and utilities updated daily, weekly, monthly, and annually. It is a cost-effective, one-stop solution for all your market research requirements, irrespective of which part of the value chain you represent.

We have a team of highly experienced analysts who perform comprehensive research to deliver our clients the newest and most up-to-date market reports, cost models, price analysis, benchmarking, and category insights, which help in streamlining the procurement process for our clientele. Our team tracks the prices and production costs of a wide variety of goods and commodities, hence providing you with the latest and consistent data.

To get real-time facts and insights to help our customers, we work with a varied range of procurement teams across industries. At Procurement Resource, we support our clients, with up-to-date and pioneering practices in the industry, to understand procurement methods, supply chain, and industry trends, so that they can build strategies to achieve maximum growth.

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