Tridge summary
Ukraine and Russia collectively control over 70% of the global sunflower oil market, with Ukraine currently facing challenges in its sunflower oil industry due to a nearly depleted 2023/24 harvest and a difficult start to the 2024/25 season, caused by a long drought and high temperatures impacting summer crops like sunflower and corn. As a result, crude sunflower oil prices at Ukrainian ports have risen since September 2024, driven by strong demand and limited supply, leading to a significant decrease in sunflower oil exports. Oleomannan, an oilseed consultancy, has lowered its production estimates for Russia and Ukraine, anticipating demand rationing and a potential global sunflower seed export drop to a nine-year low. Additionally, tensions between China and Canada could further impact the market, with China threatening retaliatory restrictions on Canadian canola in response to potential tariffs on Chinese products by Canada.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
Ukraine and Russia dominate more than 70% of the global sunflower oil business, far above the share of Argentina, which was the leader at the beginning of this century. It will be understood that what happens with these countries at war in the Black Sea has a decisive weight on international prices. The nation invaded by Putin holds on to its most precious economic resource with enormous value: agriculture and the industries related to it. This time, sunflower is going through a particular moment in Ukraine, characterized by a virtually exhausted 2023/24 harvest and the 2024/25 season in its early stages of threshing, with many doubts regarding the yields to be obtained in key areas of the country. A long drought and high temperatures have made life difficult for this and other summer crops, especially corn. According to APK-Inform, crude sunflower oil prices at Ukrainian ports have been rising since the beginning of September 2024. The trend is driven by strong demand for the ...
Source: Infobae
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