There is nowhere to put sunflower seeds in Russia, one of the reasons is supplies from the annexed territories

Published Mar 27, 2023

Tridge summary

Russia is facing a sunflower stock surplus, with prices dropping by a third in the past three weeks due to overproduction and decreased demand. The situation is causing economic distress for farmers, particularly in the Rostov region. The Russian Grain Union and government officials are discussing solutions, including the possibility of removing the export duty on sunflower and increasing the purchase for the intervention fund. However, the lack of storage space and financial constraints are limiting the effectiveness of these solutions.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

In Russia, there is nowhere to put sunflower. Stocks are huge, factories no longer buy raw materials, which is why the price of raw materials has fallen over the past three weeks by a third - from 30 to 20 thousand rubles. per ton, Arkady Zlochevsky, head of the Russian Grain Union, told reporters. He called the situation "close to disaster." "Sunflower has always been profitable [for peasants], it was an economic safety net. The collapse occurred due to large supplies to factories, including from the annexed territories. For example, in the Rostov region, farmers are already simply screaming about a disaster," the expert says. According to Zlochevsky, the problem was discussed in the State Duma, one of the possible ways to solve the problem was the abolition of the export duty on sunflower, which is now "practically prohibitive." "Otherwise, where to put it? In general, all the existing problems of the market are solved quite simply - excellent current regulation. But officials ...
Source: Zol

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