SovEcon lowers estimate of sunflower harvest in Russia to 16.1 million tons

Published 2022년 11월 18일

Tridge summary

SovEcon analysts predict that Russia's sunflower harvest will yield around 16.1 million tons this year, a decrease of 0.9 million tons from the previous estimate due to delays in harvesting in the Central and Volga Federal Districts. The harvest is expected to extend into winter, leading to lower yields. Experts believe that this will stabilize sunflower prices, which have been high despite difficulties in harvesting due to weather conditions. The average sunflower price in the European part of Russia last week was 21,050 rubles. per tonne, over 1.5 times lower than the peak levels seen in March 2022.

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

Original content

About 16.1 million tons of sunflower can be harvested by Russian farmers following the results of the current calendar year. Such a forecast was made public by SovEcon analysts in their report, lowering the new estimate of the gross seed harvest by 0.9 million tons relative to the previous one. “The estimate has been revised due to serious delays in harvesting in the Central and Volga Federal Districts,” the document states. “As of November 10, 11.6 million tons of sunflower from 6.4 million hectares were harvested, while a year earlier, by this time, 15.1 million tons were harvested from 9.5 million hectares.” According to SovEcon, the harvesting of a significant part of the crop will drag on for months, and will end only after the winter, which will lead to a serious decrease in yields. “Deteriorating prospects for the new crop and slow harvesting amid relatively high prices for sunflower oil will lead to stabilization of sunflower prices in the near future,” experts believe. ...

Source: Oilbranch