Sunflower Oil Prices in USA
- United States: 1370 USD/MT
In Q4 2023, the price of sunflower oil in the United States reached 1370 USD/MT. The FAO vegetable price index reported a 0.7% decrease in October compared to the previous month.
The latest report by IMARC, titled "Sunflower Oil Pricing Report 2024: Price Trend, Chart, Market Analysis, News, Demand, Historical and Forecast Data" delivers a comprehensive analysis of sunflower oil prices on a global and regional scale, highlighting the pivotal factors contributing to price changes. This detailed examination includes spot price evaluations at key ports and an analysis of pricing structures, such as Ex Works, FOB, and CIF, across North America, Europe, Asia Pacific, Latin America, and the Middle East and Africa.
Sunflower Oil Prices December 2023:
- United States: 1370 USD/MT
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The study delves into the factors affecting sunflower oil price variations, including alterations in the cost of raw materials, the balance of supply and demand, geopolitical influences, and sector-specific developments.
The report also incorporates the most recent updates from the market, equipping stakeholders with the latest information on market fluctuations, regulatory modifications, and technological progress. It serves as an exhaustive resource for stakeholders, enhancing strategic planning and forecast capabilities.
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Sunflower Oil Price Trend- Q4 2023
The sunflower oil market is influenced by a confluence of factors spanning economic, agricultural, and consumer dynamics. The shifts in agricultural production and weather patterns significantly impact sunflower cultivation, affecting supply levels and consequently prices. Additionally, the demand for healthier cooking oils has increased due to growing awareness of health and wellness, with sunflower oil being perceived as a healthier alternative to traditional options like palm or soybean oil. Moreover, changing dietary preferences, particularly in emerging economies, where sunflower oil is a staple ingredient in cooking, contribute to market growth. Furthermore, technological advancements in oil extraction processes enhance efficiency and reduce production costs, making sunflower oil more competitive in the market. Geopolitical factors such as trade policies, tariffs, and import/export regulations also play a crucial role in shaping the market landscape.
Sunflower Oil Market Analysis
The global sunflower oil market 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. During Q1 2024, the North American sunflower oil market witnessed a significant price fluctuation, displaying a mixed trajectory. Prices increased notably in January, only to sharply decline in February, followed by a steady rebound as March drew to a close. The notable price increase in January 2024 can be attributed to heightened downstream demand, fueled by initiatives to replenish inventories amidst growing advocacy for the biofuels sector. Additionally, in response to the heightened demand, market participants adjusted prices upward to enhance profitability, resulting in the sale of goods at a higher cost than initially anticipated. Moreover, geopolitical tensions and trade disruptions added complexity to market sentiment, leading to export challenges and escalated shipping costs. Whereas, during Q1 2024, the pricing landscape for sunflower oil in the APAC region depicted a downward trajectory, marked by a decrease of over 1 percent compared to the preceding quarter of the prior year. Nonetheless, a marginal uptick in prices was observed as the quarter neared its end. Initially, up until the midpoint of Q1, prices exhibited an overall decline. This downturn was influenced by several factors, such as diminished demand for vegetable oil, notably in significant markets such as China, and an oversupply of sunflower oil.
In Europe, the sunflower oil market faced considerable challenges during the initial quarter of 2024, marked by a significant decline in prices. Various factors contributed to this downward trend. Global market conditions, notably the decreasing prices of alternative edible oils such as palm and soybean oil, played a pivotal role in driving down sunflower oil prices. These oils, acting as substitutes for Russian sunflower oil, were abundantly available, exerting competitive pressure on sunflower oil prices. Moreover, diminished demand from key importers such as India, China, and Turkey, coupled with reduced biofuel consumption and weakened purchasing sentiment, further exacerbated the negative pricing environment for sunflower oil.
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Key Points Covered in the Sunflower Oil Pricing Report:
The report delivers the following key findings, alongside a comprehensive breakdown of prices by region:
- Sunflower Oil Prices
- Sunflower Oil Price Trend
- Sunflower Oil Demand & Supply
- Sunflower Oil Market Analysis
- Demand Supply Analysis by Type
- Demand Supply Analysis by Application
- Demand Supply Analysis of Raw Materials
- Sunflower Oil Price Analysis
- Sunflower Oil Industry Drivers, Restraints, and Opportunities
- Sunflower Oil News and Recent developments
- Global Event Analysis
- List of Key Players
Regional Price Analysis:
- Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Thailand, South Korea, Malaysia, Nepal, Taiwan, Sri Lanka, Hongkong, Singapore, Australia, and New Zealand
- Europe: Germany, France, United Kingdom, Italy, Spain, Russia, Turkey, Netherlands, Poland, Sweden, Belgium, Austria, Ireland, Switzerland, Norway, Denmark, Romania, Finland, Czech Republic, Portugal and Greece
- North America: United States and Canada
- Latin America: Brazil, Mexico, Argentina, Columbia, Chile, Ecuador, and Peru
- Middle East & Africa: Saudi Arabia, UAE, Israel, Iran, South Africa, Nigeria, Oman, Kuwait, Qatar, Iraq, Egypt, Algeria, and Morocco
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Note: The current country list is selective, detailed insights into additional countries can be obtained for clients upon request.
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