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
A multitude of factors encompassing consumer, agricultural, and economic dynamics impact the sunflower oil market. Changes in weather and agricultural productivity have a big impact on sunflower farming, which affects supply and, ultimately, prices. Furthermore, as people's awareness of health and wellness has grown, so has the desire for healthier cooking oils; sunflower oil is seen as a healthier option than more conventional ones like palm or soybean oil. Moreover, shifting dietary habits support market expansion, especially in developing nations where sunflower oil is a common culinary component. In addition, technological developments in oil extraction procedures improve productivity and minimize manufacturing costs, increasing sunflower oil's competitiveness in the market. The geopolitical landscape is significantly shaped by variables including import/export laws, tariffs, and trade policies.
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 significantly in January, only to decline sharply 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 amid 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 previous year. Nevertheless, 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 decreased demand for vegetable oil, notably in significant markets such as China, and an oversupply of sunflower oil.
The first quarter of 2024 was a challenging time for the sunflower oil market in Europe due to a sharp drop in prices. There were several variables that led to this decline. The state of the global market, particularly the declining costs of substitute edible oils like soybean and palm oil, was a major factor in the decline in sunflower oil prices. Due to their widespread availability and ability to replace Russian sunflower oil, these oils put pressure on sunflower oil prices through competition. In addition, declining demand from major importers like China, India, and Turkey, together with lower biofuel consumption and a downturn in consumer confidence, all contributed to the unfavorable price situation 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 Index
- 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, Colombia, 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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