Sunflower Oil Prices

Sunflower Oil Prices June 2024

During the second quarter of 2024, the sunflower oil prices in the United States reached 959 USD/MT in June. This increase was driven by persistent supply chain issues, rising input prices, and heightened demand. Additionally, warmer spring temperatures added to storage expenses, fueling the price surge, while the broader market trends kept the overall price trajectory on an upward path.

In Q2 2024, China's sunflower oil prices rose sharply due to robust demand in the food processing and biodiesel sectors. Besides this, the hike in US Dollar compared to the Yuan elevated import prices, whereas limited supplies and seasonal factors exacerbated the supply-demand inequality, further pushing prices up. Overall, the sunflower oil price in China in June 2024 was priced at 1032 USD/MT.

Sunflower oil prices in Ukraine spiked in Q2 2024 owing to severe supply chain disruptions and climate conditions that reduced crop output. Furthermore, the ongoing conflict deteriorated supply further, resulting in a notable surge in procurement prices, causing higher prices amidst a strained industry environment. As a result, the sunflower oil price in Ukraine reached 944 USD/MT in June 2024.

Sunflower Oil Prices March 2024

During the first quarter of 2024, the sunflower oil prices in the United States reached 848 USD/MT in March. This is attributed to increased biofuel demand and geopolitical crisis. After a sharp decline in February, prices improved slightly in March, influenced by rising global vegetable oil costs despite ongoing supply chain concerns.

The sunflower oil market in China during the first quarter of 2024 faced downward price pressures due to the reduced demand and increased imports from Russia and Ukraine. However, by the end of the quarter, prices recovered slightly, due to rising costs of other vegetable oils and strategic inventory sales by traders. The first quarter in China ended with the product's price reaching 899 USD/MT in March.

Ukraine's sunflower oil market saw consistent price declines in Q1 of 2024 due to weak demand and global market pressures. Despite this, March saw a surge in exports, especially to Egypt, as local consumption rebounded slightly, providing some support to prices amid an overall negative trend. Overall, the product's price in Ukraine reached 821 USD/MT in March of 2024.

In Q1 2024, Russia's sunflower oil market witnessed a downward price trend, influenced by global market conditions and reduced demand. Nevertheless, despite continuous pressure from competitors, the market saw a brief respite in March thanks to a minor bounce driven by increased exports and rising palm oil prices. By the end of the first quarter, the product's price in Russia stood at 810 USD/MT.

Sunflower Oil Prices December 2023

The sunflower oil prices in the United States for Q4 2023 reached 1370 USD/MT in December. The prices demonstrated a complex pattern, initially falling due to an influx of supply from Ukraine's peak harvest season. However, logistical issues like a shortage of shipping containers along with port congestion later drove prices up, compounded by fluctuating global economic conditions.

Regional Coverage

The report provides a detailed analysis of the sunflower oil market across different regions, each with unique pricing dynamics influenced by localized market conditions, supply chain intricacies, and geopolitical factors. This includes price trends, price forecast and supply and demand trends for each region, along with spot prices by major ports. The report also provides coverage of ex-works, FOB, and CIF prices, as well as the key factors influencing the sunflower oil price trend.

Global Sunflower Oil Price

The report offers a holistic view of the global sunflower oil pricing trends in the form of sunflower oil price charts, reflecting the worldwide interplay of supply-demand balances, international trade policies, and overarching economic factors that shape the market on a macro level. This comprehensive analysis not only highlights the current price but also provides insights into sunflower oil historical price trends, enabling stakeholders to understand past fluctuations and their underlying causes.

The report also delves into sunflower oil price forecast models, projecting future price movements based on a variety of indicators such as expected changes in supply chain dynamics, anticipated policy shifts, and emerging market trends. By examining these factors, the report equips industry participants with the necessary tools to make informed strategic decisions, manage risks, and capitalize on market opportunities. Furthermore, it includes a detailed sunflower oil demand analysis, breaking down regional variations and identifying key drivers specific to each geographic market, thus offering a nuanced understanding of the global pricing landscape.

Europe Sunflower Oil Price

Q2 2024:

Sunflower oil prices in Europe saw a significant increase in Q2 2024 due to tight supply and robust demand. Furthermore, bad weather events in major producing regions reduced crop yields and restricted supply. Besides this, the ongoing conflict in the region further adversely impacted supply, causing higher manufacturing expenses. Internation factors, like heightened shipping charges and limited sales due to anticipated future price hikes, also impacted the market.

Q1 2024:

The European sunflower oil industry in Q1 2024 saw notable price declines due to multiple factors. The availability of cheaper alternatives such as soybean and palm oil, as well as diminished consumption in major product importers and lower biofuel demand, all contributed to the downward trend. Despite this, a modest rebound in regional demand and heightened exports provided some support to prices despite the overall negative trajectory in the market.

Q4 2023:

The market was marked by volatility in Q4 2023, driven by several disruptive factors. The ongoing conflict in Ukraine severely impacted supply chains, while the harvest season brought an influx of sunflower seeds, initially pushing prices down. Despite this, sunflower oil prices saw a notable rise in November due to easing input cost inflation and positive market sentiments. By December, prices adjusted downward, mirroring global declines in other vegetable oils like palm and soybean. This was further influenced by the substitution effect of these oils in various applications, leading to a fluctuating price landscape across the region.

This analysis can be extended to include detailed sunflower oil price information for a comprehensive list of countries.

North America Sunflower Oil Price

Q2 2024:

The price of sunflower oil witnessed a spike in North America during the second quarter of 2024, influenced by multiple factors, including higher demand, supply issues, and rising input expenses. Aside from that, ongoing supply issues, exacerbated by low stocks and increasing regional and global demand, drove prices higher. Moreover, environmental challenges and geopolitical tensions further strained the supply, elevating transportation costs and extending lead times.

Q1 2024:

In the first quarter of 2024, North America's sunflower oil market experienced notable price fluctuations. January saw a significant price rise due to heightened demand for biofuels and inventory replenishment, alongside geopolitical crises affecting trade routes and costs. However, February witnessed a sharp decline as feeble quotations and competition from European markets pressured prices downward. By the end of Q1, prices rebounded slightly due to rising global costs of alternative oils, though concerns about supply chain disruptions, particularly along the Mississippi River, continued to influence the market trajectory.

Q4 2023:

 During the final quarter of 2023, North America saw a complex trajectory in sunflower oil prices. Prices began declining in early October, coinciding with the peak harvest season in Ukraine, a key exporter. This increased supply led to reduced prices for importers. Despite this, the price of sunflower oil experienced a moderate rebound mid-quarter due to a rise in downstream demand. Throughout the quarter, logistical issues such as a global container shortage and port congestion heightened transport costs, elevating the export costs of sunflower oil. These factors, along with fluctuating global economic conditions and concerns over potential supply shortages, fostered a volatile market, culminating in higher consumer prices by the quarter’s end.

Specific sunflower oil historical data within the United States and Canada can also be provided.

Middle East and Africa Sunflower Oil Price

The report explores the sunflower oil pricing trends in the Middle East and Africa, considering factors like regional industrial growth, the availability of natural resources, and geopolitical tensions that uniquely influence market prices.

In addition to region-wise data, information on sunflower oil prices for countries can also be provided.

Asia Pacific Sunflower Oil Price

Q2 2024:

The Asia Pacific region saw a significant hike in sunflower oil prices in Q2 2024, due to growing demand in non-traditional sectors and disruptions in supplies. Moreover, the advantage of sunflower oil's cost over other oils strengthened its demand. Aside from that, seasonal factors, limited inventories, and aggressive procurement activity exacerbated the supply-demand imbalance, maintaining upward pressure on prices throughout Q2.

Q1 2024:

In the first quarter of 2024, the sunflower oil market in the Asia Pacific faced a challenging pricing environment. Prices initially trended downward due to low demand and the excess availability of the product. The market dynamics were further influenced by China's increased imports of lower-cost oils, leading to competitive pricing pressures. However, by the end of Q1 2024, prices showed a modest recovery, supported by rising costs of other vegetable oils and strategic inventory management by traders, despite ongoing logistical problems and currency fluctuations.

 Q4 2023:

The market in the Asia Pacific region was notably influenced by various factors through Q4 2023. The period started with a global surplus from a bountiful Ukrainian harvest, leading to lowered initial prices. However, by the quarter's conclusion, prices escalated due to logistical challenges and heightened port congestion, which delayed sunflower oil shipments and created temporary shortages. The region also saw an increase in demand, particularly as bullish market sentiments took hold, further boosting prices. These dynamics were accompanied by a continual flow of new market quotes, which contributed to stabilizing prices towards the end of December.

This sunflower oil price analysis can be expanded to include a comprehensive list of countries within the region.

Latin America Sunflower Oil Price

The analysis of sunflower oil prices in Latin America provides a detailed overview, reflecting the unique market dynamics in the region influenced by economic policies, industrial growth, and trade frameworks.

This comprehensive review can be extended to include specific countries within the region.

Sunflower Oil Price Trend, Market Analysis, and News

IMARC’s newly published report, titled “Sunflower oil Prices, Trend, Chart, Demand, Market Analysis, News, Historical and Forecast Data Report 2024 Edition,” offers an in-depth analysis of sunflower oil pricing, covering an analysis of global and regional market trends and the critical factors driving these price movements.

It encompasses an in-depth review of spot price of sunflower oil at major ports, a breakdown of prices including Ex Works, FOB, and CIF, alongside a region-wise dissection of sunflower oil price trend across North America, Europe, Asia Pacific, Latin America, the Middle East and Africa.

The report examines the elements influencing sunflower oil price fluctuations, such as changes in raw material costs, supply-demand dynamics, geopolitical factors, and industry-specific developments. Additionally, it integrates the latest market news, providing stakeholders with up-to-date information on market shifts, regulatory changes, and technological advancements, thereby offering a comprehensive overview that aids in strategic decision-making and forecasting.

Sunflower Oil Market Analysis

The global sunflower oil industry size reached US$ 36 Billion in 2023​. By 2032, IMARC Group expects the market to reach US$ 60.8 Billion, at a projected CAGR of 6.00% during 2023-2032​.

• Sunflower oil is becoming popular due to people's increased awareness of health issues. It helps people maintain a balanced diet because it is low in saturated fat and high in unsaturated fats and vitamin E.
• The growing knowledge of the benefits of sunflower oil, together with its widespread availability through various distribution channels such as supermarkets, hypermarkets, retail stores, and online platforms, is fueling market expansion.
• Technological advancements in extraction and processing technology, which are making the production of sunflower oil more cost-efficient, is fostering the market expansion.
• In some countries, governing agencies are also supporting the production of sunflower through subsidies, technical assistance, and research investments, thereby increasing the production and quality of sunflower oil.
• According to IMARC Group, the worldwide cosmetics industry was worth US$ 400.6 billion in 2023 and is predicted to grow to US$ 618.7 billion in 2032. Sunflower oil is widely used in cosmetics due to its moisturizing and emollient characteristics, which prevent premature aging. The oil softens, nourishes, and enhances the texture of the skin.
• According to the EU Industrial R&D Investment Scoreboard 2021, total investments made by healthcare industries around the world is about €188.7 billion in R&D in 2020. Sunflower oil makes a good base for topical drugs and ointments that relieve skin irritations and conditions.
• There is an increase in the demand for alternatives for conventional fossil fuels to reduce environmental impacts and support sustainable practices around the world. This, in turn, is catalyzing the demand for biofuels manufactured from sunflower oil via transesterification process.

Sunflower Oil News

The report covers the latest developments, updates, and trends impacting the global sunflower oil industry, providing stakeholders with timely and relevant information. This segment covers a wide array of news items, including the inauguration of new production facilities, advancements in sunflower oil production technologies, strategic market expansions by key industry players, and significant mergers and acquisitions that impact the sunflower oil price trend.

Latest developments in the sunflower oil industry:

• In 2023, Cargill, Incorporated launched Gemini Pureit™, a sunflower oil brand, in Karnataka, India to cater to the needs and demands of consumers for premium quality oil.
• In October 2023, GEF India has launched a new reusable 10-litre multi-use jar of Freedom Refined Sunflower Oil. It is a new addition to the company's product line, which includes a variety of pack sizes such as 200ml, 500ml, 500ml PET bottle, 1-litre pouch, and 1 liter PET bottle.

Product Description

Sunflower oil, a widely favored non-volatile cooking oil, maintains a light texture, neutral flavor, and significant biological activity. It's abundant in unsaturated fatty acids, especially linoleic and oleic acids, essential for a comprehensive diet. This oil protects against oxidative damage in the body, reflecting positively on skin health.

Regarding heart health, sunflower oil manages cholesterol levels and reduces inflammation, safeguarding cardiovascular functionality. Its high-temperature stability makes it ideal for frying and baking without producing harmful oxidative products. Additionally, its beneficial effects on hair health have made it a common ingredient in hair care products. Beyond its nutritional value, sunflower oil is employed in producing biofuels, demonstrating its versatility and contribution to sustainable energy sources.

Report Coverage

Key Benefits for Stakeholders:

• IMARC’s report presents a detailed analysis of sunflower oil pricing, covering global and regional trends, spot prices at key ports, and a breakdown of Ex Works, FOB, and CIF prices.
• The study examines factors affecting sunflower oil price trend, including raw material costs, supply-demand shifts, geopolitical impacts, and industry developments, offering insights for informed decision-making.
• The competitive landscape review equips stakeholders with crucial insights into the latest market news, regulatory changes, and technological advancements, ensuring a well-rounded, strategic overview for forecasting and planning.
• IMARC offers various subscription options, including monthly, quarterly, and biannual updates, allowing clients to stay informed with the latest market trends, ongoing developments, and comprehensive market insights. The sunflower oil price charts ensure our clients remain at the forefront of the industry.