Sunflower Seed Market Outlook 30.01.24

The sunflower seed market is holding firm. The sunflower oil market is the most competitively priced vegetable oil on the market which has encouraged importers to move away from competing oils. The European Union’s sunflower oil import requirements have increased significantly due to large year-on-year decreases of sunflower seed crushing and higher domestic requirements as a replacement for olive oil. Sunflower seed exports from Ukraine have been minimal, due to widespread import bans and the domestic industry taking up most of the raw material for crushing.

In addition, farmers continue to hold raw material in anticipation that the prices will move upward given the above factors. However, Ukrainian sunflower seeds are also moving up steadily, solidifying market firmness.