First Quarter of 2023 in Asia- Pacific Sunflower Oil Prices - Price: Rs. 0

Sunflower oil prices declined in North America during the first quarter of 2023 as a result of decreased market sentiment and low market from the downstream sectors. The price of sunflower oil decreased in the first half of Q1 as a result of a decline in local retailers' demand. As a result, the cost of oil decreased in the local market. Sunflower oil is no longer in high demand from consumers. Also, Canada had been the principal destination for US sunflower oil imports, but as Canadian demand for the product plummeted, the price of the commodity dropped sharply. Throughout the second half of Q1 2023, prices continued to fall as a result of lower inflation and improved supply from European countries. The product's price reduction in the first months of the quarter caused a rise in inventories, which in turn caused the commodity's price to decline. Prices decreased in the last month of the quarter as a result of merchants having enough commodities in hand. The price of Sunflower oil for FOB Houston (USA) in March 2023 was reported to be USD 1085/MT around the conclusion of Q1 2023.

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