In the first half of 2021, high prices for sunflower oil will remain in Ukraine

Published Dec 29, 2020

Tridge summary

The article highlights the anticipated sunflower oil supply shortage in the first half of 2021, primarily due to disappointing yields from the Black Sea region, including Russia, Ukraine, Romania, Bulgaria, and Moldova. These countries experienced adverse growing conditions during the 2020/2021 marketing year, leading to lower than expected yields and oil content in the seeds. The situation is further worsened by Russia's decision to increase the export duty on sunflower seeds to 30% from January 9 to June 30. Despite these challenges, demand for sunflower oil is expected to rebound as the global economy recovers from the COVID-19 pandemic, with Turkey planning to increase imports to mitigate the effects of Russian export duties.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

Supplies of sunflower oil in the first half of 2021 will be limited due to poor sunflower yields from Black Sea producers. The 2020/2021 marketing year in Russia, Ukraine, Romania, Bulgaria and Moldova suffered from arid conditions during the growing season, resulting in lower yields and oil content in the seeds than market expectations. This was reported by Oilworld with reference to the forecast of S&P Global Platts. The supply deficit will continue throughout the first half of 2021, which will be reflected in the price level. The limited supply will be exacerbated by Russia's decision to increase the export duty on sunflower seeds to 30% from January 9 to June 30. Read: Purchase prices for sunflower in Ukraine increased by 900 UAH / t At the same time, demand will continue to recover against the background of economic growth around the world after the crisis COVID-19. The expected opening of hotels and catering establishments will also be favorable for the demand for sunflower ...
Source: Landlord

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