In the second half of 2024, the prices of sunflower seeds exhibited an oscillating trajectory globally. The production of the commodity faced significant challenges during this period as unfavorable weather conditions, particularly prolonged high temperatures and below-normal precipitation, disrupted crop yields. A reduction in production was anticipated, as reflected in the USDA report, which forecasted a significant decline in sunflower planting. Harvested areas shrank by 30% compared to the previous year, ultimately leading to reduced downstream seed crushing capacities for 2024. Consequently, a rise in prices was observed near the harvest months, particularly in September and October.
However, prices declined in the last two months of the year as the new harvest entered the market. In Ukraine, approximately 97% of the production area was harvested by November, easing prices as the market anticipated fresh supply. Overall, the prices of sunflower seeds followed a mixed trend during H2'24.