US sunflower oil usage breaks records

게시됨 2023년 2월 27일

Tridge 요약

The U.S. has seen a significant increase in the demand for trans-fat-free NuSun and high-oleic sunflower oils, with domestic usage surging by 66% in the last six years. This trend is projected to continue, with an expected annual growth of 5% to 10% in the 2022-23 marketing year. Despite the surge in domestic demand, 15% of U.S. sunflower oil production is still exported, primarily to Canada. The USDA's forecast of a 48% increase in sunflower production in 2022, compared to 2021, reflects the increased demand. Additionally, the article discusses the benefits of 'Act of God' contracts, which allow farmers to lock in attractive prices for fall delivery, mitigating price risk. The article also mentions that the oil premiums paid for sunflower contracts, based on oil content above 40%, can significantly increase the gross return per cwt. The main market factors for the latter half of the year are expected to be the USDA's March Prospective Plantings report and the North American weather conditions and 2023 U.S. oilseed crop prospects.

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원본 콘텐츠

U.S. demand for trans-fat-free NuSun and high-oleic sunflower oils has experienced impressive growth in the past six years. Usage has increased from 436 million pounds to 725 million pounds, a 66% increase. In the 2022-23 marketing year, domestic usage is expected to continue this growth trend and reach a record 750 million pounds. Based on trend-line projections, domestic sunflower oil consumption is expected to grow 5% to 10% annually. Of all sunflower oil produced in the United States, 85% is sold into the domestic market. The remaining 15% is primarily exported to Canada, Mexico and Japan. Canada has been the leading export destination at 70% of all U.S. sunflower oil exports. The market for oil-type seeds has been active since harvest, with crushers and bird food buyers competing for the robust seed supplies available this year, versus last year’s drought-reduced crop at this same time. In its final estimate, USDA pegged 2022 sunflower production at 2.81 billion pounds, ...

출처: UkrAgroConsult