The Second Quarter of 2023 the US Sunflower Oil prices Online

Description

Across the North American region, the Sunflower Oil Prices depicted a similar market trend as that in Europe throughout the second quarter of 2023. As the prices for Sunflower Oil went down since the start of the year 2023, market sources stated that the downtrend in prices would continue through this quarter due to high stocks of sunflower oil across the region, sufficient supply of European buyers and the abolition of export duties owing to Russian halt in black sea grain deal continuing to put pressure on the market as the exports from Ukraine one of the major producer reduced. Besides this, on average, the dip in the prices for Sunflower Oil until the end of June was more than 7 percent. Moving towards the termination of June, another factor that supported the weakened price trend included the change in climatic conditions, which further affected the import momentum. Besides this, Economic concerns such as rising interest rates also weighed on Sunflower Oil prices as higher energy prices and a slight increase in refinery inventories weighed on market sentiment across the North American region. With this, the prices of Sunflower Oil in the United States were settled at USD 840/MT FOB Houston in June.

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