Prominent authorities predict shortage of raw materials for vegetable oil
Refined Soybean Oil
Turkiye
Besim Donmez
Published Sep 7, 2020
The president of the Vegetable Oil Industrialists Association in Turkey has warned their member companies to build crude oil stocks of edible vegetable oils as global markets are becoming unpredictable under COVID - 19 conditions and measures taken by producing states. Sunflower seed prices in Russia, Ukraine, and Bulgaria are increasing caused by lower yields this year and if those countries impose an export ban on the raw materials, driven by COVID - 19 restrictions and logistics issues, then there's a big danged for Turkish oil processors and exporters. Therefore, the President of the association urges to build stocks if possible, in order to overcome future possible supply difficulties.
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