Ukraine: The export of sunflower oil from the Black Sea region will decrease due to crop failure

Published 2024년 12월 5일

Tridge summary

The Black Sea region, which accounts for 75% of the global sunflower oil exports, is projected to experience an 18% decrease due to a drought-induced harvest drop in the main exporting countries. According to Argus, the narrative is particularly concerning in Bulgaria and Romania, where the sunflower seed production is expected to hit a decade low. However, the largest contributors, Ukraine and Russia, are also experiencing reduced forecasts, with Ukraine's expected production being adjusted from 12.3 million tons to 12 million tons by Argus. The total export for the 2024/2025 season is now projected to be 8.8 million tons, a decrease from the previous season's 10.7 million tons, with potential for further adjustments.

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

Original content

The Black Sea region expects an 18% drop in sunflower oil exports. The reason is a decrease in the harvest in the main exporting countries due to drought. Khrystyna Yavorska, a senior analyst of the oil market of the international price agency Argus, told about this during the Agro&Food Security Forum 2024 in Warsaw, the correspondent of Latifundist.com reports. Exporters from the Black Sea region supply 75% of sunflower oil to the world market. "According to Argus, the production of sunflower seeds in Bulgaria and Romania will reach a minimum for the last 10 years — 1.6 million tons and 1.4 million tons, respectively. However, the two largest producers of sunflower oil — Ukraine and Russia — will have the greatest influence on the world market. Thus, in Ukraine, the USDA forecasts the production of sunflower seeds at the level of 12.3 million tons. The forecast from Argus is 12 million tons. ...

Source: Elevatorist