Spread between offer and bid prices increased on Russian market of sunflower oil – APK-Inform - 12.04.2022

Spread between offer and bid prices increased on Russian market of sunflower oil – APK-Inform - 12.04.2022

According to APK-Inform, since the beginning of the last week, the offer export prices of Russian crude sunflower oil have been growing, while the bid prices continued declining.

The offer prices were supported by further growth of production costs as well as demand from India and Turkey, as there were no significant competition for Russian origin. However, many importers still preferred to buy alternative oils to replace sunflower oil amid the small number of offers. There were problems with payment and freight rates increased due to the insurance risks that pressured the bid prices.

The offer prices of crude sunflower oil increased by 15-30 USD/t to 2000-2050 USD/t FOB (April-May), while the bid prices decreased by 55-70 USD/t to 1900-1950 USD/t FOB.

Source: https://www.apk-inform.com/