Large stocks pressure EU sunflower oil prices

Published Apr 15, 2023

Tridge summary

The European Union is experiencing a decrease in sunflower oil prices due to high stocks of both the oil and sunflower seeds. This is attributed to a significant increase in sunflower oil imports and record harvests in the first half of the 2022-2023 agricultural season. Despite an expected contraction in EU sunflower harvests, processed quantities are projected to reach a record 9.78 million tons. This has resulted in an increase in final stocks of sunflower in the EU.

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

Original content

In the segment of sunflower oil on the market in the European Union, a drop in prices is reported due to both its large stocks and those of sunflower, the electronic publication APK-Inform reported, citing data from the authoritative German company for market analyzes and forecasts Oil World. As of April 13, FOB Rotterdam sunflower oil was $1,030 a tonne – down $35 from a week earlier. In the first half of the 2022-2023 agricultural season, which began on August 1, sunflower stocks in EU member states rose to 6.27 million tonnes from 5.96 million tonnes in the same period last season. The growth is due to the largest extent to the record high import of the oilseed crop. Estimates by Oil World experts indicate that between August 2022 and January 2023, inclusive, the EU imported 1.33 million tons of sunflower compared to only 270 thousand tons in the first 6 months of last season. Despite a known contraction of EU sunflower harvests during the season to 9.35 million tonnes, mainly ...

Source: Sinor