Sunflower oil prices reach highest level since August 2022

Russia is deliberately targeting Ukraine’s vegetable oil sector, carrying out systematic strikes on processing plants, ports, and infrastructure. Against this backdrop, vegetable oil prices have surged, with sunflower oil FOB six ports reaching their highest level since August 2022.

Over the past three weeks, there have been at least nine strikes on processing facilities and port infrastructure. According to market participants, about 25% of processing capacity is currently idle due to logistical disruptions, power supply problems, and security risks.

As of January 8, sunflower oil FOB six European ports — Rotterdam, Amsterdam, Antwerp, Ghent, Dunkirk, and Dieppe — rose to around $1,409 per ton for February shipments, up $80 per ton from mid-December levels. This is the highest price since August 2022.

Limited supply is also tightening the market: in some locations, only two or three sellers are active, allowing prices to remain elevated. The share of Ukrainian oil in EU markets remains critically important — averaging about 40% in January–October 2025, and reaching up to 97% in October. Imports from Russia to the EU are blocked by sanctions.

Analysts note that even before the latest strikes, prices were supported by logistical constraints, the impact of attacks on the energy sector, unfavourable weather, and high export duties in Russia. The combined effect of these factors has heated up other markets as well: CIF Turkey rose to $1,318 per ton (+$14), while CIF India climbed to $1,325 per ton (+$50), the highest level since February 2023.

Unlike Europe, Turkey and India are actively importing Russian oil. In January–November 2025, Turkey imported 1.1 million tons, of which 64% came from Russia and only 24% from Ukraine. In January–October, India imported 2.29 million tons: 46.5% from Russia, 23% from Argentina, and 22% from Ukraine.

IC UAC according to latifundist [2]