The price of sunflower seed hit 600 euros per ton in Europe

Published 2024년 10월 22일

Tridge summary

The US Department of Agriculture's Foreign Market Service forecasts a notable drop in global sunflower seed production for 2024/25, with a reduction of 5.36 million tonnes impacting all major producers except Argentina. The Black Sea region, especially Ukraine and Russia, is expected to experience the largest declines. This situation has caused an increase in sunflower seed and crude sunflower oil prices, with French sunflower seed prices rising to EUR 600 per tonne and significant price hikes in Rotterdam and the Black Sea region. The market dynamics are influenced by high demand and limited supply, with Ukrainian processors prepared to pay premium prices for sunflower seeds.

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

Original content

In 2024/25, global sunflower seed production will fall by a drastic 5.36 million tonnes, with yield reductions in all major producing countries except Argentina. This is predicted by the US Department of Agriculture's Foreign Market Service (FAS USDA) in its October report. The Black Sea region has the most pessimistic outlook. The production of sunflower seeds in Ukraine in 2024/25 will fall by 3 million tons compared to the previous season to 12.50 million tons, and in Russia the yield is 1.1 million tons less - 16, 0 million tons The sunflower harvest in the European Union will be 500 thousand tons weaker than last year's. FAS USDA: World Sunflower Seed Production (million tons) During the period 1-21 October, the price of French sunflower seed rose by EUR 100 to EUR500/t, to EUR600/t CRT St Nazaire (EUR385/t - 20.10.23). Prodanov: The sunflower market is becoming more active - transactions are at BGN 900 per ton Crude sunflower oil on the Rotterdam market also jumped by ...

Source: Sinor