Bulgaria: There are no prerequisites for a shock increase in the price of oil

There are no prerequisites for a shock increase in the price of oil. This year, from September until now, 60,000 tons of unrefined sunflower oil and 2,500 tons of refined sunflower oil have been imported. When the domestic market is squeezed by foreign market prices, there is no upward reaction. This is what the chairman of the Association of Vegetable Oil and Oil Products Producers, Yani Yanev, predicted to "Bulgaria on Air". Yanev noted that we need about 300,000 tons to meet our needs, and the remaining amount is for export to the European market, North Africa, India."We compete mainly with Russia and Ukraine, which are the largest producers. When we are not operating at higher capacity, costs jump. We are currently operating with approx. 30% of capacity. The main factor in the price of sunflower oil is the raw material, but the capacity load is also important. If competitive production is not produced, you cannot work in this market." Yanev pointed out that in 2020 we had an ...