Overview and Analysis of Domestic Oil Sunflower and Sunflower Oil Weekly Trading (Week 46, 2024)

01 Sunflower

Week 46 (November 11-15, 2024): Domestic sunflower prices continued to rise this week, with specific regional prices as follows:

Weekly review:

This week, domestic sunflower oil continued to operate strongly. The main reason for the rise in oil sunflower prices is the reduction in production and supply in major producing countries such as Russia, Ukraine, and the European Union. In addition, farmers are not in a hurry to ship, resulting in less oil sunflower arrivals at ports, which is beneficial for the oil sunflower market. On the demand side, due to the significant increase in oil sunflower prices and slow delivery speed, it is unfavorable for the oil sunflower market.

It is expected that the price of sunflower oil will remain stable in the short term. Although supply concerns are high, the high price of sunflower oil has suppressed demand. Pay more attention to external market prices and the trend of China's import volume in the later stage.

02 Sunflower Oil

Week 46 (November 11, 2024 - November 15, 2024) The average price of domestic sunflower oil this week is 11,017 yuan/ton, of which the price of first-grade sunflower oil in Jiangsu is 11,100 yuan/ton; the price of first-grade sunflower oil in Xinjiang is 9,900 yuan/ton, and the price of first-grade sunflower oil in Tianjin is 11,400 yuan/ton. The prices in various regions are as follows:

Weekly Review:

This week, domestic sunflower oil prices continued to rise. Foreign import prices and domestic prices are inverted, and the import cost is high, resulting in insufficient domestic supply. The price of oil sunflower raw materials is also rising, supporting the sunflower oil market. In terms of demand, due to the shortage of goods in the market, traders are actively looking for sources, but due to the decline in soybean and rapeseed oil prices this week, some dealers are in a wait-and-see attitude and dare not easily start, and the overall sales speed is average, suppressing the price of sunflower oil. The sharp drop in soybean and rapeseed oil prices has somewhat suppressed the rise in sunflower oil prices.

It is expected that sunflower oil prices will continue to run strongly in the short term. The reduction in oil sunflower production and the reduction in sunflower oil crushing have become a fact. The shortage of supply in the market cannot be alleviated. The rising sentiment in the market continues to support sunflower oil, so the possibility of sunflower oil price increase is relatively high, but Russian analysts said that its domestic prices may remain stable because the high price reduces exports, which helps stabilize the price of sunflower oil.