W49 Sunflower Update: Moldova Emerges as Top EU Sunflower Seed Supplier in 2023/24 MY; Bulgaria Lifts Import Ban on Ukrainian Sunflower Seeds

Moldova Surpasses Ukraine as Top Supplier of Sunflower Seeds to EU in 2023/24 Season

According to the operational data from the European Commission (EC), Moldova has become the primary supplier of sunflower seeds to European Union (EU) countries in the 2023/24 season, surpassing Ukraine. Between July 1 and November 26, EU imports of sunflower seeds totaled 191 thousand metric tons (mt), an 85% decrease compared to the same period last season. Moldova contributed nearly 63% of this volume, providing 120 thousand mt, compared to 108 thousand mt the previous year. In contrast, Ukraine, the former leading supplier, significantly reduced its shipments in the 2023/24 season, dropping from 1.09 mmt to 36 thousand mt. The main importers within the EU for this season are Romania (79 thousand mt), Bulgaria (39 thousand mt), and Spain (14 thousand mt). During this period, Romania was also the leading exporter of sunflower seeds from the EU, with 64 thousand mt, followed by Bulgaria (33 thousand mt) and Croatia (21 thousand mt).

EU Sunflower Seed Harvest Estimate Reduced to 10.05 mmt

Strategie Grains has slightly reduced its estimate for 2023's sunflower seed harvest in the European Union to 10.05 mmt from the previous 10.10 mmt. The adjustment is due to lower expectations in Romania. Despite this revision, the current estimate remains more than 7% higher than the sunflower seed harvest in the previous year.

Ukraine's Sunflower Oil Exports Drop 10% YoY to 1.3 mmt in 2023/24 MY

In the 2023/24 marketing year (MY), Ukraine reduced its sunflower oil exports abroad by 10% YoY, from 1.44 mmt to 1.3 mmt. Despite this decrease, sales in Nov-23 increased 12% YoY and 32% MoM to 538 thousand mt. The surge is due to expectations of more favorable prices. Ukrainian agricultural producers are following a similar policy for sunflowers domestically, while export demand for raw materials remains relatively low, with uncertain prospects for change. Sunflower demand prices have dropped, ranging from USD 364.95 to 373.06/mt, influenced by declining oil prices and quotations for vegetable oils.

Bulgaria Lifts Import Ban on Ukrainian Sunflower Seeds from December 1, 2023

As of December 1, Bulgaria has lifted the import ban on wheat, corn, rapeseed, and sunflower seeds from Ukraine, as reported by the country's Ministry of Agriculture. This decision aligns with the terms of the Memorandum between the government and the Initiative Committee of protesting farmers, which had initially limited the import of agricultural products until November 30. With the country facing a substantial decrease in the 2023/24 sunflower crop estimated at 1.6 mmt, almost 24% year-on-year (YoY) lower, there is a pressing need for a supply of Ukrainian sunflower and rapeseed.

Russia's 2023/24 Sunflower Harvest Increased 19% YoY

As of November 30, Russia's 2023/24 sunflower harvest reached 16.2 mmt, 19% higher YoY, constituting 59% of the oilseeds structure. This is due to the active pace of harvesting and the maintenance of high crop yields. Harvesting is now complete in various regions, including Kaluga, Sverdlovsk, Kherson, Bryansk, Zaporizhzhia, Kurgan, Tyumen, Krasnodar, and Stavropol. Additionally, republics such as Khakassia, Crimea, Adygea, Ingushetia, Tatarstan, and Chechnya have reached 100% completion.