Argentina's Sunflower Seed Prices Plummet 10.36% YoY Amidst Global Market Dynamics

In Feb-24, Argentina's sunflower seed prices dropped by 10.36% YoY to USD 0.33/kg from USD 0.47/kg in Feb-23. This downward trend has persisted since Nov-23, contrasting with the previous year's prices. The record sunflower seed production of 4.7 mmt in the 2022/23 campaign, driven by increased planted area, resulted in sunflowers becoming a primary input for the oil industry. Despite record crushing and export volumes, export revenues declined by 26% YoY in 2023.