Sunflower Oil Price Trend and Forecast

Sunflower Oil Regional Price Overview

Get the latest insights on price movement and trend analysis of Sunflower Oil in different regions across the world (Asia, Europe, North America, Latin America, and the Middle East & Africa).


Sunflower Oil Price Trend for the Q1 of 2024

Product Category Region Price Time Period
Sunflower Oil Agriculture, Farming and Commodity USA 955 USD/MT March 2024
Sunflower Oil Agriculture, Farming and Commodity Russia 909 USD/MT March 2024

Stay updated with the latest Sunflower Oil prices, historical data, and tailored regional analysis


India's sunflower oil imports skyrocketed during the first quarter of 2024, reaching the second-highest level on record, driven by lower prices and the increase in the purchases by the refiners. This surge comes at the fall in the imports of palm oil, as India reduced its purchases due to issues in the Malaysian palm oil markets influenced by a substantial decline in production volumes.

Sunflower Oil Price Chart

Sunflower Oil Price Trends

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Palm oil comprises 38% of India's edible oil consumption, followed by soybean oil (21%), mustard oil (14%), and sunflower oil (12%). The freight rate hikes from the Red Sea crisis further affected the sunflower oil imports from Ukraine and Russia.

Indonesia's palm oil exports may slightly decrease due to higher domestic use and reduced demand. The rise in sunflower oil imports, coupled with a significant increase in soy oil imports, propelled India's total edible oil imports and raised its pricing quotations.

The traders also noted a significant improvement in the spending of the consumers, and their rising demand supported the uptrend in the sunflower oil pricing trajectory. This shift signifies a notable preference for sunflower oil in India's vegetable oil market, influenced by pricing dynamics and supply considerations.


Ample sunflower oil supplies in the European market drove its prices to their lowest as compared to the previous quarters, with demand remaining minimal throughout Q1 of 2024. The situation was further compounded by the underperformance of Black Sea ports due to Russia's war in Ukraine and challenges in alternative routes.

Despite lowering the prices, demand for sunflower oil didn't surge as much as the traders had anticipated at the beginning of the quarter. Additionally, the overflowing of the inventories was caused by Ukrainian sunflower oil imports to the EU, comprising over 92% of total sunflower oil supplies. This surge came as a surprise for the manufacturing sector as the total influx of imports declined in the said quarter due to an increase in the shipment time. This suggests that the consumer preference for sunflower oil declined exponentially, which may partially be influenced by soaring inflation and interest rates.

North America

In North America, amid the falling dynamics of palm oil, the abundant supplies of rival sunflower oil flooded the market. The price trend of sunflower oil, thus inclined as the reluctance of the market to use palm oil and the heavy discounts on bulk purchases supported the shift in consumer preference to sunflower oil.

Further, due to the incline in the cost of palm oil imports from Malaysia, the resurgence of sunflower oil as a cheaper alternative in the region and its competitive pricing sustained the overall dynamics of the commodity. Additionally, dry weather conditions in Indonesia and Malaysia, coupled with record South American crops, also supported an uptrend in sunflower oil prices, diverting buyers away from palm oil.

Analyst Insight

According to Procurement Resource, the price trend of Sunflower Oil is estimated to face upwards with the expansion of its consumer base and rise in its trading activities along with improvement in the global economy.

Sunflower Oil Price Trend for the October - December of 2023


Sunflower oil prices were observed to be plummeting in the Asian market during the last quarter of the year 2023. The market started on a little relaxed note in India at the beginning of the quarter in October’23. With the Indian government actively slashing the import duty, the prices of sunflower oil began stabilizing in the previous quarters. The low market prices, coupled with the already cheap Russian and Ukrainian exports, further crashed the domestic prices.

This reduced the sunflower oil’s premium over palm oil as the gap between the two narrowed down. Hence, with glutted supplies in the wake of reduced demands, the sunflower oil market rallied at the lower price levels during the discussed period of Q4’23.


Western Europe noticed fluctuations in sunflower oil prices during the said period of Q4’23. Prices started picking up as the sunflower oil demand in the international market started rising. India alone showed a substantial increase in its oil imports from the Ukrainian and Russian nations. Though there were some occasional reverse fluctuations in sunflower oil prices, the overall market outlook remained largely positive throughout the said period.

North America

The North American sunflower oil market was found to be fidgeting at the lower end of the price curve during the last quarter of the year 2023. The sunflower crop’s capability of withstanding drought-like conditions helped in maintaining production during El Nino, and the prices fluctuated as per the domestic demands in the region.

Analyst Insight

According to Procurement Resource, the Sunflower Oil market price trend are exuding stability in the market in the coming months; an optimistic outlook is expected.

Sunflower Oil Price Trend for the July - September of 2023


The sunflower oil market experienced a consistent rise throughout the third quarter of the year 2023. The primary reason behind this increase was the supply curtailments that the Sunflower Oil markets were experiencing. After the Russian invasion, Ukrainian goods (one of the biggest producers and exporters of Sunflower Oil) could not reach the international market freely; however, since the UN negotiated the Black Sea agreement in 2022, the situation improved substantially.

Russia backed out from the agreement after completing one year in July 2023, which again blocked the agricultural supplies from Ukraine to reach the global markets. Given the rising popularity of biodiesel, the Sunflower Oil demands rose during the said period. Hence, with high demands and limited supplies, the Sunflower Oil prices surged on the quarterly price index during the said quarter of 2023.


The European Sunflower Oil market was no different than the Asian market. The impact of the breaking down of the Black Sea agreement was the most severe on the European agricultural markets. Given the rising demands and supply shortages, the Sunflower Oil price graph inclined for the entire period of Q3’23.

North America

The North American Sunflower Oil market, too, felt the volatility of the global Sunflower Oil market initially at the beginning of the third quarter. However, domestic production could handle the local demands after a while. So, the prices in North America initially inclined in the first half of the quarter but subsided in the latter half as the supply–demand gap reduced. Overall, mixed market trend were observed.

Analyst Insight

According to Procurement Resource, the Sunflower Oil market is likely to waver on the high side going forward in the coming months. Since the global demands exceed the supply, the prices are likely to fluctuate positively.

Sunflower Oil Price Trend for the First Half of 2023


Sunflower Oil prices mostly remained on the lower side of the curve in the Asian markets during the first half of 2023. Overall, market demands were observed to be stable throughout the said period. But it was the oversupply of products that drove the market sentiments. Because of the black sea agreement, Ukrainian oil got market access, and prices were shot down. As the inventory levels were already running high, cheaper imports led to further depreciation of the Sunflower Oil market. Overall, the market couldn’t perform very well, and the price trend for sunflower oil remained sullen throughout the said period.


The European Sunflower Oil market behaved no differently than the Asian market. Prices were on a declining trajectory throughout the said period. Excess supplies amidst mounting inventories were the reason for the continuous decline in Sunflower Oil prices across Europe. Cheaper oil was exported to Asian markets at lesser prices while the domestic market also remained low-lying as prices didn’t improve at all, even if consumer demands rose periodically in the middle of the quarters.

North America

The North American Sunflower Oil market too followed the global depreciating price trend. Prices continued to decline throughout both quarters. As the freight got cheaper and the crude oil prices stabilized, upstream refining costs declined continuously, adding to the overall cost pressure. Overall, the price trend for sunflower oil remained southward throughout the said period.

Analyst insight

According to Procurement Resource, the Sunflower Oil market is expected to continue to decline for some time, given the overstocked inventories and stable demands.

Sunflower Oil Price Trend for the Second Half of 2022


The price trend for sunflower oil were relatively firm in the Asia-Pacific region during the said period. Owing to the domestic off-season, epidemic and limitations in transportation, the prices of sunflower oil fell in the Chinese market. In August, despite the insufficient inventories, the prices did not witness large fluctuations due to the weak terminal demand.

The trading atmosphere was light due to the Mid-Autumn Festival. Sunflower Oil prices were stable on the whole, averaging 15,000 RMB/MT towards the end of September. Furthermore, the price trend weakened during the fourth quarter as new supplies came from Ukraine whereas the demand for the product kept low in the domestic market.


Sunflower oil prices witnessed a declining pattern during the said period. With Russia cancelling the export quota system, the export tariff on sunflower oil decreased. With sufficient market inventories and muted transactions, the prices in the European region plummeted.

North America

In line with global trend, the prices of sunflower oil in the US domestic market remained on the scale's lower end. The overall oil market was stable despite lowering demand and weakening oil stocks averaging 1578 USD/MT (approx.) in September and around 1512 USD/MT in December.

Analyst Insight

According to Procurement Resource, edible oil prices, such as sunflower oil, are expected to decrease in the global market in the coming months. However, the possibility of large fluctuations is not high, and the overall prices will remain stable.

Sunflower Oil Price Trend For the Second Quarter of 2022


With prices of food, fuel, and crop nutrients rising in the first half of Q2 2022 as a result of the Russia-Ukraine war and India importing the majority of its edible oil from European nations, prices in the Asia Pacific region dropped.

Prices soared as a result of the war. In addition, to cut domestic prices and to assist manage inflation and the rising cost of food locally, the Indian government exempted 20 lakh metric tonnes of annual imports of the commodity from customs duty and the agriculture infrastructure growth tax in the second half of Q2. Sunflower oil prices were recorded at 2345 USD/MT Ex-Chennai (India) in June 2022 toward the end of the quarter.

North America

Due to rising demand from the downstream industries, sunflower oil prices climbed in North America during the second quarter of 2022. Due to the Russia-Ukraine war, which drove up the price of oil on the domestic market, sunflower oil prices rose in the first half of Q2.

Consumer demand for the commodity has significantly increased. The price of the commodity also climbed dramatically as a result of a rise in demand from Canada, which had previously been the top import market for US sunflower oil. The price continued to rise in the second half of Q2 2022 as a result of increasing inflation and a disrupted supply from European nations. Sunflower oil prices increased to 2059 USD/MT on a FOB basis in June 2022 around the close of Q2 of 2022.


Because of the Russia-Ukraine war, prices in Europe rose during the second quarter of 2022. Ukraine is the largest exporter of sunflower oil in the world, but the Russian invasion has complicated growing, manufacturing, and shipping, driving up worldwide costs and prompting rationing in some nations.

Due to a fuel shortage and the fact that the closest border was more than 620 miles away, Ukraine's major issue in the second half of Q2 was transporting its goods to the border. Prices were recorded at 2140 USD/MT FOB Chornomorsk (Ukraine) in June 2022 around the close of the quarter.

Sunflower Oil Price Trend For the First Quarter of 2022


As a result of the continuing Russia-Ukraine conflict, branded sunflower oil prices reached an all-time high in India, costing about 3,000 INR/15-liter can. In March 2022, the price per litre was in the range of 170-190 INR, compared to 140-150 INR three months earlier. Over 70% of India's sunflower oil comes from Russia and Ukraine. Because of the tensions between the two countries, supply has been significantly impeded.

There isn't enough supply coming from Indian producers. The suspension of its supplies has resulted in an increase in demand for other types of cooking oil, such as palm, peanut, and soybean, which are experiencing a demand-supply imbalance.


Ukraine and Russia produce around 60% of the world's sunflower oil, and the conflict has severely disrupted supplies. It accounts for around a fifth of the market in terms of value and 44 percent in terms of volume in UK retailers. After the invasion of Ukraine, its price increased by 60%, from 1,130 GBP/MT in February to over 1,800 GBP/MT in March. Millions of tonnes of sunflower oil destined for overseas purchasers have been stranded in Ukraine as a result of the conflict, generating a severe supply shock. The Ukrainian government has been unable to export 10 million tonnes of sunflower seeds.

Latin America

Uncertainty, over Black Sea shipments as a result of Russia-Ukraine conflict has caused sunflower oil prices in Argentina to spike 47% in less than two weeks between February 23 and March 8, 2022  according to the USDA United States Department of Agriculture.

Sunflower Oil Price Trend For the Fourth Quarter of 2021


In October, the government decreased the base import tax on crude sunflower oil to 2.5% from 7.5%. The base import tariff on refined sunflower oil was reduced from 37.5% to 32.5%.

Imports of crude palm oil, soyoil, and sunflower oil would face a total tax of 24.75 percent, including a 2.5 percent basic import tariff and other taxes, after the changes, while refined palm oil, soyoil, and sunflower oil would face a total tax of 35.75 percent.

More than two-thirds of India's edible oil consumption is met by imports, and the country has been trying to keep domestic oil prices stable in recent months.

Palm oil is mostly imported from leading suppliers Indonesia and Malaysia, while soy and sunflower oils are imported from Argentina, Brazil, Ukraine, and Russia.

Tax cuts would lower edible oil prices in the run-up to major festivals, when demand for the product spikes.


Sunflower prices in Ukraine dropped to a three-month low as crude oil prices fall, putting pressure on the vegetable oil complex, while the return of a Covid-19 variation raised fears of tighter movement restrictions across Europe. Sunflower crushers cut their rates by more than 55-73 USD/MT in December, to 678-715 USD/MT, as a result of wider drops across the oil complex.

North America

In the fourth quarter, the prices of sunflower oil in the United States were in the range of 1.36k-1.42kUSD/MT. The US Refined Sunflower oil price was recorded at 1493 USD/MT. To accommodate regional demand, many international corporations sought to develop relationships with local producers. Furthermore, its application in biodiesel production has assisted the growth of the sunflower seed oil market.

Sunflower Oil Price Trend For First, Second and Third Quarters of 2021


The price of the oil in India had increased by 90% y-o-y, with a price rise from 85 INR/L to 150 INR/L. The increase in price was attributable to the increased demand and drop in its imports. The Asia-Pacific area had significant development potential in the global market due to the widespread usage of sunflower oil in bakery, snack, and confectionery items.

The bakery industry in the region thrived in 2021, with increased demand for new and healthier baked items. Singapore's Ministry of Health, for example, announced in 2019 that starting in June 2021, all PHOs will be banned as an ingredient in all meals. Food processors switched to sunflower seed oil as a result, which increased demand in the region. India and China were the region's major importers because they were among the world's most populous countries.


In Ukraine, sunflower seed prices were recorded at 645 USD/MT in January, 740 USD/MT in May and 568 USD/MT in September. The market in the region was booming, with this type of oil consumption rapidly increasing. Its large amount of unsaturated fatty acids and high smoke point drove its consumption in the region.

North America

For the first three quarters of 2021, the US export price sunflower oil was estimated to be 1.35k USD/MT in January, USD/MT in May, and 1.31k USD/MT in September. The US refined sunflower oil price was recorded at 1493 USD/MT. Domestic demand for this oil has surged in recent years as a result of food producers' widespread use of it for frying and cooking. In addition, an increasing number of companies in the area were investing in large food processing plants.

Sunflower Oil Price Trend For the Year 2020


In India, crude sunflower oil prices were 1148 USD/MT in November. The Solvent Extractors' Association of India (SEA) revealed that edible oil imports decreased by 5%, bringing the total to 14.2 MMT. This was attributable to supply chain interruptions and low-income consumers' reduced spending. Disruptions in supply chain management, on the other hand, had begun to fade, and the industry was resuming its regular pace as countries eased trade embargoes.


In Ukraine, the average price of flower’s seed was 340 USD/MT during the first three quarters of the year, while it was 590 USD/MT in December. The COVID-19 epidemic wreaked havoc on the global economy and disrupted supply chain operations. Government-imposed trade barriers and restrictions also hindered the expansion of the sunflower seed and oil businesses.

The stay-at-home customer trend had wreaked havoc on the foodservice and HoReCa (hotel, restaurant, and café) industries. The spread of the coronavirus led to a rise in edible oil prices, which had a significant impact on the major oil-exporting countries.

North America

In 2020, the US export price for sunflower oil was 840 USD/MT in Jan, which declined to 730 USD/MT in June and finally rose again to 1040 USD/MT in September. The final quarter's average price was 1150 USD/MT . The seeds' oil was widely used in North America's cooking, energy, and chemical industries. The food industry's broad use was one of the factors that aided the market's growth.

Latin America

Argentina's market price for crude sunflower oil in 2020 was 698 USD/MT in January. The oil's oleic acid, linoleic acid, and other essential minerals help reduce cholesterol levels in the body. Its use as a healthy cooking and frying oil in food manufacturing firms and homes has risen steadily. This oil was also in demand as a cosmetic ingredient and for creating vegan mayonnaise, cheese, and spreads. As a result, the combination of these factors helped drive demand in 2020.

Procurement Resource provides latest prices of Sunflower Oil. Each price database is tied to a user-friendly graphing tool dating back to 2014, which provides a range of functionalities: configuration of price series over user defined time period; comparison of product movements across countries; customisation of price currencies and unit; extraction of price data as excel files to be used offline.

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About Sunflower Oil

Sunflower Oil is known as the non-volatile pressed oil that is taken from the seeds of sunflower. Sunflower oil is typically utilised in food as a frying oil, as well as in cosmetic formulations or as an emollient. The world's total manufacturing of sunflower oil in 2014 was nearly 16 million tonnes, with Ukraine and Russia as the largest producers.

Sunflower Oil Product Details

Report Features Details
Product Name Sunflower Oil
Industrial Uses Frying oil, Mayonnaise and oil-based dressings Cosmetics, Emollient
Supplier Database Kernel, EFKO Group, ASTON JSC, Cargill Incorporated, Optimus Agro, Bunge Limited, Adams Group
Region/Countries Covered Asia Pacific: China, India, Indonesia, Pakistan, Bangladesh, Japan, Philippines, Vietnam, Iran, Thailand, South Korea, Iraq, Saudi Arabia, Malaysia, Nepal, Taiwan, Sri Lanka, UAE, Israel, Hongkong, Singapore, Oman, Kuwait, Qatar, 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

Africa: South Africa, Nigeria, Egypt, Algeria, Morocco
Currency US$ (Data can also be provided in local currency)
Supplier Database Availability Yes
Customization Scope The report can be customized as per the requirements of  the customer
Post-Sale Analyst Support 360-degree analyst support after report delivery

Note: Our supplier search experts can assist your procurement teams in compiling and validating a list of suppliers indicating they have products, services, and capabilities that meet your company's needs.

Sunflower Oil Production Processes

  • Production of Sunflower Oil via Industrial Processing.

The process involves cleaning and sorting of the sunflower seeds and their grinding. This is followed by pressing and extraction of crude oil from these seeds, where a volatile hydrocarbon such as hexane is utilised as a solvent for oil extraction. The derived oil is further refined before packaging.


The displayed pricing data is derived through weighted average purchase price, including contract and spot transactions at the specified locations unless otherwise stated. The information provided comes from the compilation and processing of commercial data officially reported for each nation (i.e. government agencies, external trade bodies, and industry publications).

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