In the first half of 2023, prices of crude sunflower oil stayed low due to surplus production from exporting countries and limited demand from the food and cooking sectors. Intense competition with various oil types led to consumer fragmentation and subdued market sentiment. The absence of cost backing, coupled with market dynamics, resulted in volatile and consistently low-price trends for Crude Sunflower Oil.
Definition
Crude Sunflower Oil is the unprocessed, untreated form of oil extracted from sunflower seeds. It's the initial extraction stage before any refining or alterations. This raw oil retains the natural characteristics and impurities of sunflower seeds. It's commonly used in various industrial processes, including cooking and food production.
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Key Details About the Crude Sunflower Oil Price Trends:
Procurement Resource does an in-depth analysis of the price trend to bring forth the monthly, quarterly, half-yearly, and yearly information on Crude 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 Crude Sunflower Oil Price chart, including India Crude Sunflower Oil price, USA Crude 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 Crude Sunflower Oil Price Trends:
Crude Sunflower Oil serves essential roles across industries as a versatile ingredient. Primarily, it's refined to produce refined sunflower oil for cooking and food processing due to its high smoke point and neutral flavour. Additionally, it's utilized in cosmetics, pharmaceuticals, and biodiesel production, making it a valuable resource in diverse sectors.
Key Players:
- EFKO Group
- ASTON JSC
- Cargill Incorporated
- Optimus Agro
- Bunge Limited
- Adams Group
News and recent developments:
The Indian government has reduced import duties on refined soybean oil and refined sunflower oil to 12.5% from 17.5%, while maintaining a 5% import duty on all crude oils, including sunflower oil. This aims to control edible oil prices. The move may impact sentiment but isn't seen as commercially viable for refined soybean oil or sunflower oil shipments. Soft oil imports decreased while palm oil imports increased. Despite recent changes, India's reliance on imports remains significant, with 60% of its 24 million metric tons annual consumption of vegetable oil being imported, consisting of 75% crude oil and 25% refined oil.
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