Bulgaria: Sunflower Seed & Oil prices to reach record-breaking highs by March

Sunflower oil prices in Bulgaria are increasing every day caused by the growing global demand and the lack of supply from the Black Sea region due to droughts experienced in Bulgaria and Ukraine. Additionally, Russia's imposition of tariffs on sunflower seed and sunflower oil exports further increased the prices. It is estimated that the current stock levels will significantly diminish by March and prices will drastically go up again. Currently, both the sunflower seed and sunflower oil supply is scarce and only offered by farmers or suppliers that are looking to cash in. The majority of suppliers keep their stocks in anticipation of the price increase.