Sunflower Oil Price Trend, Index, Chart, Forecast, News, Monitor and Historical Prices Analysis

Sunflower Oil Prices in USA

United States: 1370 USD/MT

In Q4 2023, the price of sunflower oil in the United States reached 1370 USD/MT. The FAO vegetable price index reported a 0.7% decrease in October compared to the previous month.

The price of sunflower oil market is primarily driven by several key factors including increasing health consciousness among consumers, the rising demand for healthy cooking oils, and the versatility of sunflower oil in various culinary applications. Consumers are becoming aware of the health benefits associated with sunflower oil, such as high content of unsaturated fatty acids and vitamin E, resulting in a heightened demand for this oil. Additionally, the continuous innovation and introduction of new sunflower oil-based products, which are expanding their applications beyond cooking to include processed foods, snacks, and even cosmetic products, is boosting the market growth. Besides this, the growing trend of plant-based and natural ingredients in food and non-food products is also supporting the market growth. Furthermore, the expansion of retail networks and e-commerce platforms, which has made sunflower oil more accessible to a broader consumer base, is fueling market growth. In addition, recent advancements in agricultural practices and the development of high-yield sunflower varieties, which have improved production efficiency, are contributing to the market growth. Moreover, environmental concerns and the push towards sustainable agricultural practices are also facilitating the demand for sunflower oil as it is considered more environmentally friendly compared to some other vegetable oils.

The global sunflower oil market size reached US$ 36 Billion in 2023. By 2032, IMARC Group expects the market to reach US$ 60.8 Billion, at a projected CAGR of 6.00% during 2023-2032. In the last quarter, sunflower oil prices in the North American region have been influenced by several factors, including fluctuations in raw material costs, changes in supply chain dynamics, and variations in consumer demand. Additionally, geopolitical tensions in key sunflower oil-producing regions affected the supply chain, causing price fluctuations. Besides this, the ongoing economic conditions, including inflationary pressures and changes in import-export policies, have also impacted the pricing dynamics. Moreover, increased transportation and logistics costs due to fuel price hikes and labor shortages have further contributed to the rising prices. Apart from this, emerging shifts in consumer preferences towards healthier cooking oils and the increased use of sunflower oil in various food products have maintained strong demand, adding to the price pressure.

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