Several producers of edible oil, based on sunflower, have announced lower prices for their products due to the fall in the price of sunflower on the international market.
Since the beginning of 2022, or even before, the prices of vegetable oils, in particular sunflower-based, have experienced a significant increase of more than 75%. Several factors are involved, including the impact of international prices and the war between Ukraine and Russia, two countries known to have large reserves of oilseeds, such as sunflower seeds.
Following the appeasement of sunflower prices worldwide and its availability in rather sufficient quantities, several Moroccan companies active in this field have announced that their sunflower-based edible oil products will experience a drop from this week.
The edible oil sector in Morocco has been hard hit by high raw material prices and fluctuations in these prices internationally. Indeed, the Kingdom imports almost all of its oilseed needs for the production of table vegetable oils. It is therefore 98% dependent on raw materials from abroad.
The decline in this raw material currently observed on the international market will have a slight impact on the multigrain edible oil made partly from sunflower oil, while the edible oil product made from 100% sunflower oil sunflower will experience a decline of up to 15%.
The Lesieur Cristal group announced, on Monday in a press release, the price reduction of its various brands of table oil made from sunflower seeds, up to 15%. A drop that will be passed on immediately specifies the same source.
Thus, the prices of table oil from the Huilor brand of the Lesieur Cristal group, made up of 100% sunflower seeds, will experience an immediate drop of 15%. That said, the price of bottles of table oil of the same brand, made from a mixture of sunflower and rapeseed seeds, will drop, but to a lesser extent, specifies the same source.