During the initial half of 2023, Sunflower Oil prices in Asian markets consistently decreased, primarily driven by an oversupply of oil and heightened market entry for Ukrainian oil under the Black Sea agreement. Despite a steady demand, market sentiments were adversely impacted. Concurrently, European and North American markets witnessed analogous price patterns, with diminishing prices attributed to surplus supplies and escalating inventories. The overall downward price pressure was amplified by more affordable exports to Asia and decreased refining costs. Throughout this specified period, Sunflower Oil prices in these regions sustained a continuous decline.

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Definition

Sunflower oil is a type of vegetable oil extracted from sunflower seeds. It is commonly used in cooking and food preparation due to its mild flavor and high smoke point. The oil is rich in unsaturated fats, particularly linoleic acid, and is known for its health benefits, such as promoting heart health and lowering cholesterol levels.

Key Details About the Sunflower Oil Price Trend:

Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on Sunflower Oil in its latest pricing dashboard. The detailed assessment deeply explores the facts about the product, price change over the weeks, months, and years, key players, industrial uses, and drivers propelling the market and price trends.

Each price record is linked to an easy-to-use graphing device dated back to 2014, which offers a series of functionalities; customization of price currencies and units and downloading of price information as Excel files that can be used offline.

The Sunflower Oil Prices, including India Sunflower Oil price, USA Sunflower Oil price, pricing database, and analysis can prove valuable for procurement managers, directors, and decision-makers to build up their strongly backed-up strategic insights to attain progress and profitability in the business.

Industrial Uses Impacting the Sunflower Oil Price Trend:

During the initial half of 2023, Sunflower Oil prices in Asian markets consistently decreased, primarily driven by an oversupply of oil and heightened market entry for Ukrainian oil under the Black Sea agreement. Despite a steady demand, market sentiments were adversely impacted. Concurrently, European and North American markets witnessed analogous price patterns, with diminishing prices attributed to surplus supplies and escalating inventories. The overall downward price pressure was amplified by more affordable exports to Asia and decreased refining costs. Throughout this specified period, Sunflower Oil prices in these regions sustained a continuous decline.

Key Players:

• EFKO Group
• ASTON JSC
• Cargill Incorporated
• Optimus Agro
• Adams Group

News and recent developments:

India's sunflower oil imports are expected to decrease in the coming months due to rising prices after Russia withdrew from the Black Sea grain deal. This move would make sunflower oil less competitive against rival oils, leading India to increase purchases of palm oil and soyoil. The expiration of the Black Sea export deal could result in a 30% drop in sunflower oil shipments to India, causing imports to fall to around 200,000 tons from August, compared to the typical 250,000 tons per month. Ukraine traditionally accounted for a significant portion of India's sunflower oil imports, but Russia became the largest supplier in the previous marketing year.

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