Experts of Oil World downgraded its forecast for world production of sunflower in 2020/21 MG

2020-06-19 12:09:25
Machine translation
Experts of Oil World downgraded its forecast for world production of sunflower in 2020/21 MG

In the updated report of the experts of Oil World downgraded its forecast for world production of sunflower in 2020/21 MG to 57 million tons due to expanding acreage of 1.1-1.2 million hectares.

 

in Particular, in comparison with the previous season, Ukraine will increase production from 16.15 million tons to a record 16.2 million tonnes, Russia – from 15.38 to 15.5 million tonnes (which will also be at a record level), the EU – from 9.44 to 10.1 million tons, Argentina – from 3.25 to 3.85 million tons, with 0.88 to 1.12 million tons.

 

Due to the increase in sunflower crop their processing volumes will increase by 1.34 million tonnes to 51.88 million tonnes, primarily in Ukraine, Russia, the EU and Argentina.

 

Despite the decline in sunflower production in Turkey, reducing the amount of processing there is no expected, but everything will depend on whether the government decide to introduce a special import duty on sunflower.

 

bid Prices of sunflower oil of the old crop are still at a high level 765-780 $/t FOB, but they are gradually declining under the pressure of low activity of buyers. Against the background of high prices, the refiners continue to buy expensive sunflower, and some companies offer delivery to the plant 11800-12200 UAH/t

 

the price of sunflower oil from the seeds of the new crop are at the level of 700-710 $/MT FOB, while forward prices for new crop sunseeds reach 10,000 UAH/t with delivery to the plant, although last year at the peak of the harvesting season, they fell to 8800-9000 UAH/t

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