Deficiency of sunflower oil and record prices on international markets

Published 2022년 3월 28일

Tridge summary

The USDA's March report highlights the significant impact of the Black Sea region conflict on global sunflower oil exports, with Ukraine and Russia contributing to 80% of the world's supply. The conflict has led to an expected 30% decrease in Ukraine's sunflower seed production for 2022, and a potential reduction in sunflower sowing areas by 35%. This situation is causing a notable shortage of sunflower oil on the global market, and the market is struggling to find alternatives. Additionally, the Russian Ministry of Agriculture is proposing export quotas and increasing export duties on sunflower seeds to stabilize the domestic market, while the entry of Russian troops into Ukraine has led to a surge in sunflower and sunflower oil prices.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The March report from the US Department of Agriculture's FAS USDA states that "the conflict in the Black Sea region has halted sunflower oil exports from both Ukraine and Russia, and together they provide about 80 percent from its world exports ", sinor.bg writes. "A month ago, we expected sunflower oil exports from the Black Sea region to increase by more than 2 million tons to 13.5 million tons in 2021-22. Now the question is how much will be lost due to the conflict," said James Fry, head of the authoritative international analytical company LMC International. The most authoritative in the industry analytical German publication Oil World predicts that the production of sunflower seeds in Ukraine in 2022 may fall by 30 percent (5 million tons) compared to the previous year - approximately 12-12.50 million .tones. Ukrainian experts are even more pessimistic. According to them, the areas sown with sunflowers for the 2022 harvest as a result of the hostilities will be reduced by 35 ...

Source: Money