The USDA increased the forecast of sunflower crop for Ukraine
In the July report, the experts, the USDA increased the forecast of sunflower production in the black sea countries in the 2017/18 season in comparison with the June report of 600 thousand tons to 28,225 million tons against of 27.81 million tonnes in the 2016/17 season.
Due to the increase in acreage and yield increased crop sunflower to Ukraine 500 thousand tons and Moldova 100 thousand tons.
In the new season in Ukraine will increase production of sunflower oil, so that its exports will grow by 2% to 5.2 million tons.
Overall, global production will grow by 3% to 17.9 mln tonnes world consumption to grow by 4% to 16.8 million tonnes, thereby ending stocks will be reduced somewhat, but the volume remains quite high.
Simultaneously with the increase of production volumes of sunflower oil in the world will increase the production of palm and soybean oil. Therefore, the share of sunflower oil in the total composition of vegetable oils will decrease to 9.1 percent.
For this new season prices for sunflower seeds and oil will be stable, and the reason for the growth may be the deterioration of crops and yield reductions.