US: Rising demand drives global sunflower oil market despite the ongoing price rally

Refined Sunflower Oil
United States
Published Jun 13, 2021

Tridge summary

The production of sunflower oil is forecast to increase in 2021 due to strong demand that promotes investments in the expansion of harvested areas.

Original content

IndexBox has just published a new report: ‘World – Sunflower-Seed And Safflower Oil – Market Analysis, Forecast, Size, Trends And Insights’. Here is a summary of the report’s key findings. Over the past year, the prices for sunflower oil have doubled, driven by robust demand and depleting sunflower seed stocks. The dry weather conditions negatively affected the sunflower crop yield in 2020, but the market is now seeing a sturdy recovery. In 2020, the adverse weather conditions caused global sunflower production to fall by 9% against 2019. This led to the rapid depletion of global stocks and the subsequent rise in prices for sunflower seeds and oil. The average price for sunflower oil in 2020 stood at $795 per tonne (EU FOB NW Euro); in the first six months of 2021, prices reached $1,321 per tonne. Related Content: Despite prices rising at an exorbitant rate, the demand for sunflower oil is set to remain stable, supported by the growing consumption of food oil and biofuels. Should ...
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