Sunflower and sunflower oil trading review and analysis and forecast (Week 47, 2024)

01 Sunflower

Week 47 (November 18-November 22, 2024) Domestic sunflower prices continued to rise this week. The specific prices in each region are as follows:

Weekly Review:

This week, domestic sunflower prices continued to perform strongly. The main reason for the rise in sunflower prices is the reduction in production in major producing countries such as Russia, Ukraine and the European Union. The reduced supply and the fact that farmers are not in a hurry to ship the goods have led to a small number of sunflowers arriving at ports, which is good for the sunflower market. On the demand side, due to the large increase in sunflower prices, the slow sales speed is bad for the sunflower market.

It is expected that the price of sunflowers will be relatively stable in the short term. Although concerns about supply are high, the price of sunflowers is too high, which has suppressed the demand for sunflowers. Pay more attention to foreign prices and the trend of my country's imports in the later period.

02 Sunflower Oil 

Week 47 (November 18-November 22, 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, the domestic sunflower oil price is relatively stable. The price of sunflower oil is at a high level, the foreign market price tends to be stable, and the domestic oil market has weakened, so the market price of sunflower oil is temporarily stable. Whether it is sunflower oil or oil sunflower, the cost of foreign imports is high, resulting in insufficient domestic supply. 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. The overall sales speed is average, which suppresses the price of sunflower oil.

It is expected that the price of sunflower oil will continue to run strongly in the short term. As the shortage of supply in the market cannot be alleviated, the rising sentiment in the market continues to support sunflower oil. Russia's import tariffs in December are based on the average price of the market in November, and Russia's prices rose rapidly in the first half of November, which may lead to an increase in tariffs in December, which is good for the sunflower oil market.