Datetime: 2025-07-08 06:32:08 Visit: 6927
Attention: Sunflower Oil Market Changes
Recently, the sunflower oil market has fluctuated greatly and has become the focus of the global oil and fat industry.
Internationally, as a major exporter of sunflower oil, Russia has been significantly affected by policy adjustments. From June 1, 2025, Russia will increase the export tariff on sunflower oil by 58%, with the June tariff set at 7119.8 rubles/ton (about US$92.5), higher than 4500 rubles (US$58.5) in May, and extend the export tariff policy to August 31, 2026. The Russian Ministry of Agriculture said that the adjustment is aimed at stabilizing the domestic market supply and protecting the rights and interests of domestic consumers. It is also related to changes in the supply and demand pattern of the international market.
In terms of production, affected by climate factors, the global sunflower seed production is on a downward trend. In 2024, droughts and severe weather occurred frequently in parts of Eastern Europe and the Black Sea, and the sunflower seed production in major producing countries such as Ukraine and Russia was lower than expected. According to data from the Russian Oils and Fats Union, Russia's sunflower oil production in 2024 will be about 8 million tons, a 10% increase from 2023. However, as the supply of sunflower seeds decreases, it is expected to drop to 7.5 million tons in 2025, and some institutions even predict a larger drop to about 7.2 million tons. The latest report from the U.S. Department of Agriculture predicts that global sunflower oil production in 2024/2025 will be 20.2 million tons, a 9% decrease from the previous year.
In China, the sunflower oil market has also fluctuated accordingly. On the one hand, imports have declined. From January to March 2025, China's sunflower oil imports mainly come from the Russian Federation, Kazakhstan, Argentina and Ukraine. Among them, the total import volume from Russia accounts for 49.28%, but due to the news of the reduction in sunflower seed production in Russia, the supply pattern is tight, the import supply is tight, the foreign market price is strong, the theoretical import profit is inverted, and the willingness of domestic importers in China to import has declined. In the later period, the import volume of sunflower oil is expected to continue to decline, and China will mainly digest the existing inventory.
On the other hand, prices are running at a relatively high level. As of April 21, the mainstream price of the national first-grade sunflower oil market was 10,950 yuan/ton, which has fallen from last year's high, but is still at a relatively high level. Affected by supply, manufacturers have a strong mentality to support prices. Although the actual terminal demand is relatively weak at present, the market is mainly based on rigid demand, but cost support makes it difficult for prices to fall sharply. In the future, if the situation between Russia and Ukraine eases and climatic conditions improve, the global supply of sunflower oil is expected to gradually recover, but in the short term, the market will still maintain a volatile pattern under the dual influence of policies and production.
