Sunflower prices in Russia increased by 14% in November

Prices for sunflower in November in the European part of the Russian Federation increased by 14%, according to the price monitoring of SovEcon. At the end of November, the average price was 23,875 rubles per ton (without VAT). The main reason for the strengthening of quotations is a sharp deterioration in the prospects for a new crop, experts explain. According to them, the market reversal in November came after falling for many previous months. "Since March, quotations have fallen by 60%, to 20,975 rubles per ton at the beginning of November. The fall was due to record sunflower stocks in the country and the strengthening of the ruble," the report says. In November, SovEcon reduced the forecast for a new sunflower crop by 0.9 million tons to 16.1 million tons due to low harvesting rates. Due to an unusually rainy autumn, the harvesting of late crops was significantly delayed. According to experts, the share of harvested areas at the beginning of December was 75% against ...