The decrease of the production forecast of sunflower seed in Ukraine will support prices

In its October report, USDA the forecast of sunflower production in Ukraine decreased compared to the previous estimate from 15.5 to 14.5 million tons due to lower yields to 2.34 t/ha.

On 11 October in Ukraine from 88,4% of the area collected of 12.41 million tonnes of sunflower with a yield of 2.4 t/ha, so even if the best yields in the Western regions, the gross harvest will not exceed 14.5 million tons.

assessment of the world production of sunflower experts USDA reduced compared to the September report from 52.58 to 51,38 million tonnes, which will give 51,42 million tons last year.

compared To the previous MG sunflower seed production will be reduced in Kazakhstan from 9.9 to 9.8 million tons, Argentina – from 3.78 to 3.65 mln tons.

the Forecast of world sunflower compared with the September rating was reduced from 48.3 to 47.3 million tons (which will exceed 47 million tonnes of the season 2018/19), primarily through the reduction of processing in Ukraine from 15.2 to 14.3 million tonnes.

the Estimate of world ending stocks of sunflower seed decreased from 2.8 to 2.4 million tonnes.

In Ukraine, purchasing prices for sunflower since the beginning of the season have fallen significantly below last year's level amid expectations for a record crop despite the high prices for sunflower oil. The decrease in the forecast of gross yield in the near future will support the price of sunflower oil.

Information about the intentions of India to reduce political disputes through the purchase of Malaysian palm oil collapsed stock quotes latest 1.2 percent to a week low 515,1 $/ton, support price for soybean and sunflower oil.