Turkey reduces purchasing activity in the sunflower market

Currently, the actual demand has shifted to December and the first half of January.

Turkish importers will reduce purchases of sunflower seeds in the coming weeks. This is reported by Elevatorist.

This is due to the completion of November contracts and a seasonal decrease in activity against the backdrop of the holiday period.

CIF Mersin/Iskenderun prices after the correction decreased from $1,340–1,345/t to $1,295–1,300/t, which the market considers typical fluctuations. The deals are mostly concluded with delivery in November and on the border of November and December.

In Ukraine, the spot price for sunflower with delivery for processing within 30 days decreased by $3 to $683/t including VAT. As of mid-November, 91% of the areas were threshed, the gross harvest amounted to 8.9 million tons.

In the oil market in Northern Europe, prices recovered and recorded a gain of $10 by the end of the week. Despite the weak palm oil market and geopolitical risks, CSFO is showing resilience.

Also, the day before, USM reported that the USDA increased its forecast for the world wheat crop.