The increase in forecast production puts pressure on prices on sunflower
In the August report USDA assessment of production of oilseeds in the black sea region in 2018/19 MG increased compared to the previous forecast for 2,967 million tons to 43.15 million tonnes, 3.5 million tonnes will exceed the harvest season 2017/18.
Forecast of production of sunflower increased by 1.5 million tonnes to 15 million tonnes, Russia by 0.5 million tons to 11 million tons, Moldova – 100 thousand tons to 850 thousand tons, Turkey – 160 thousand tons to 1.74 million tons.
Forecast rapeseed production is increased for Ukraine at 383 thousand tons to 2.6 million tons, Russia – by 0.3 million tons to 1.8 million tons
the bid Prices for sunflower oil are falling amid increasing production forecasts. The price of crude sunflower oil in comparison with the beginning of the month fell in the ports of Ukraine for 12-20 $/t to 692-700 $/t FOB Russian ports – by $10/ton, up to 680-690 $/t FOB.
prices also pressured the quotation of soybean oil, which is traded in Chicago at 630 $/ton, and palm oil, which in Kuala Lumpur remains at 542 $/t
In Ukraine for sunflower seeds new crop with delivery to the plant offer 10500-10800 UAH/t