# W28: Sunflower Update

> Global vegetable oil output is expected to hit a record in 2023/24, while sunflower oil output may fall about 10,000 tonnes to 20.8 million tonnes. EU sunflower seed production is raised by the European Commission to 10.8 million tonnes, and June vegetable oil prices fell 2.4% month on month.

- Date: 2023-07-21 · published 2023-07-21T12:00:00.000Z
- Category: report · region Global · magnitude low
- Page: https://feedsoft.ai/events/35160-w28-sunflower-update
- Commodities: [Soybean Oil](https://feedsoft.ai/c/SBO.md), [Palm Oil](https://feedsoft.ai/c/PALMOIL.md), [Sunflower Meal](https://feedsoft.ai/c/SUNMEAL.md)

## Why it matters

Abundant palm and sunflower oil supply is pressuring vegetable oil prices, although Ukrainian sunflower output may be lower as farmers shift to soybeans. The net effect is mildly bearish for sunflower oil with supply tightness possible in Ukraine.

## Read by commodity

- SBO: bearish ▼
- PALMOIL: bearish ▼
- SUNMEAL: neutral

## Similar past events

| Commodity | Date | Event | 5-day % | 20-day % |
| --- | --- | --- | --- | --- |
| SBO | 2023-09-01 | [W34: Sunflower Update](https://feedsoft.ai/events/34216-w34-sunflower-update.md) | -4.2% | -10.4% |
| SBO | 2023-05-18 | [W19: Soybean Oil Update](https://feedsoft.ai/events/36026-w19-soybean-oil-update.md) | +2.7% | +15.5% |
| SBO | 2024-12-27 | [W51 2024: Soybean Weekly Update](https://feedsoft.ai/events/11400-w51-2024-soybean-weekly-update.md) | -0.1% | +10.0% |
| SBO | 2020-06-04 | [USDA projects increase in sunflower production](https://feedsoft.ai/events/52727-usda-projects-increase-in-sunflower-production.md) | +0.5% | +1.3% |
| SBO | 2023-02-13 | [USDA raised the forecast for Ukrainian sunflower oil](https://feedsoft.ai/events/37435-usda-raised-the-forecast-for-ukrainian-sunflower-oil.md) | +1.7% | -1.8% |
| PALMOIL | 2024-12-27 | [W51 2024: Soybean Weekly Update](https://feedsoft.ai/events/11400-w51-2024-soybean-weekly-update.md) | -10.5% | -10.4% |
| PALMOIL | 2020-01-26 | [IGC updates global soy supply balance market report](https://feedsoft.ai/events/55113-igc-updates-global-soy-supply-balance-market-report.md) | -1.5% | -12.6% |
| PALMOIL | 2021-12-16 | [Sunflower prices in Ukraine accelerated their decline under pressure from lower prices for vegetable oils 16.12.2021 - UkrAgroConsult](https://feedsoft.ai/events/43707-sunflower-prices-in-ukraine-accelerated-their-decline-under-pressure-from-lower.md) | +2.2% | +13.0% |

## Sources

- tridge.com: https://www.tridge.com/weekly-product-updates/w28-sunflower-update

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Data from Feedsoft AI (https://feedsoft.ai/). For information only; not investment advice.