World sunflower seed production in 2018 will rise to a record 50,42 million tons
In the June report, the experts of Oil World downgraded its forecast for world production of sunflower in 2017/18 MG in comparison with the previous report, 0.4 million tons to 49.1 million tonnes, primarily due to production growth in Ukraine by 0.2 million tons to 13.4 million tonnes and in the EU to 9.8 million t. in addition, Ukraine and the EU during April-September increase recycling of sunflower from 19.3 to 19.7 million tons.
Turkey in the current marketing year will increase compared to last season, the import of sunflower from 611 to 700 thousand tons, the processing volume from 2.02 to 2.22 million tonnes, After declining from April 1, the import duty on oilseeds, the country has significantly increased the purchase of sunflower.
Due to increased acreage of sunflower in 2018 in Russia and Ukraine, world production in 2018/19 MG will rise to a record 50,42 million tons of production Forecast for Ukraine increased by 7.5% to 14.5 million tonnes, Russia – 4.4% to 11.4 million tons, Argentina – 10% to 3.85 million tons, and at the same time reduced for the EU is 7.7% up to 9 million t, Turkey – 12% to 1.5 million tons.
the Amount of the world supply of sunflower seed in 2018/19 MG will rise to a record 54 million tons against of 52.91 million tonnes in 2017/18 MG, which will increase processing from 44.4 to 45.2 million tonnes and will lead to an increase of ending stocks from 3.6 to 3.8 million tons.
trade wars Caused by the fall in the price of soybean oil in Chicago and 655 $/MT palm oil in Kuala Lumpur up to 565 $/t pressure on the prices for sunflower oil, which fell to 715-720 $/t FOB Black sea ports.
In Ukraine the prices for sunflower old crop fell to 11500-11800 UAH/t with delivery to the plant, and for new crop offered 9500-10500 UAH/t