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Weak demand across the wider vegetable oil complex, as result of a resurgence in global COVID-19
cases, caused sunflower seed prices to dwindle in June. Additionally, due to the elevated average
sunflower seed price, market participants are still delaying purchases in the current marketing year in
favour of purchasing new supplies in the 2021/22 MY, which begins in August. The average price of
Ukrainian sunflower seed was UAH 16,200/MT in June, up 40% y-o-y but down 26% m-o-m.
The Ukrainian sunflower oil price followed the sunflower seed market trend, on the back of lower
demand compared to earlier in the season. The average price of Ukrainian sunflower oil reached
UAH 32,313/MT in June, up 37% y-o-y and down 23% m-o-m.
The Russian sunflower oil price has also moved in the same direction as the sunflower seed and the
Ukrainian sunflower oil markets. The June average price of Russian sunflower oil was RUB 86,745/MT,
up 64% y-o-y but down 22% m-o-m.
Similarly to Ukraine, weak demand across the global vegetable oil complex caused Russian sunflower
seed prices to weaken in June. Market participants are also holding off from making purchases due to
the elevated sunflower seed prices across the globe and are choosing to purchase new supplies in
the 2021/22 MY, which begins in August. The June average price of Russian sunflower seed was
recorded at RUB 48,605/MT, up 86% y-o-y but down 8.1% m-o-m.