Sunflower prices rose sharply amid predictions of reducing the production

2020-10-13 12:09:33
Machine translation
Sunflower prices rose sharply amid predictions of reducing the production

Last week, the purchasing prices for sunflower in Ukraine resumed growth almost returned to reached in September the maximum levels, however the publication of the October USDA report and forecast of Ukrainian grain Association regarding the reduction of the yield of sunflower yesterday had prices new push.

 

a new report by the USDA forecast of sunflower production in Ukraine in 2020/21 MG reduced compared to the estimates of September by 2 million tonnes to 15 million tonnes, 1.5 million tonnes is inferior to last year's harvest. For Russia, the forecast of sunflower crop left at the level of 13.5 mln tonnes, assessment of sunflower oil production at 5.3 million tons and exports at the level of 3.15 mln tonnes, According to APK-inform, in 2019/20 MG Russia has increased compared to the previous season exports of sunflower oil by 50% to a record 4 million tons.

 

the Forecast of world sunflower production decreased by 5% to at 51.48 million tonnes (55 million tons in 2019/20 MG), and the forecast of sunflower oil production by 4.5% to 20 million tonnes (21,277 million tonnes in 2019/20 MG).

 

Experts UZA in the October report have reduced compared to the evaluations of the September forecast yield of sunflower in Ukraine from 2.5 to 2 t/ha, and harvest by 3.2 million tonnes to 12.9 million tonnes.

 

these forecasts against the background caused by rain delays harvest of sunflower in the Northern and Western regions led to the growth of purchasing prices for sunflower in the week for 600-800 UAH/t to 14800-15400 UAH/t with delivery to the plant.

 

the Market supports also the rapid rise in price of Ukrainian sunflower oil, the price of which rose last week for 60-100 $/t to 960-1000 $/t FOB for shipments in November – December.

 

But further price increases will be limited, the prices of soybean and palm oil under seasonal pressure from the harvest and lower global demand.

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