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

게시됨 2021년 6월 12일

Tridge 요약

A recent report by IndexBox on the global market for sunflower-seed and safflower oil reveals significant trends and forecasts. The report highlights a doubling of sunflower oil prices over the past year due to increased demand and limited sunflower seed stocks, though prices are expected to stabilize with increased production in 2021. Despite dry weather reducing global sunflower production by 9% in 2020, demand for sunflower oil remains stable, supported by food oil and biofuels consumption.

The report projects a 14% increase in global exports of sunflower oil in 2021, with the EU, China, India, Iraq, and Turkey being the main importers. It also anticipates a 4% increase in global sunflower oil production in 2021, driven by expanded harvested areas and favorable weather expectations. The largest consumers of sunflower-seed and safflower oil in 2020 were Russia, India, and China, accounting for 37% of global consumption.

Ukraine emerged as the leading exporter of these oils, followed by Russia and the Netherlands. Despite challenges such as labor shortages and the EU ban on palm oil, the global oil crops market is expected to continue its growth.

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원본 콘텐츠

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

출처: Globaltrademag