The harvest is so small that higher prices cannot improve who knows how much the financial gap from low yields
Farmers save this year’s crops from sunflower. The prices of sunflowers are growing because of the poor harvest, but producers are in no hurry to sell. C Romania forecasts for sunflower production have fallen significantly, which has led to an increase in market quotations and with them to an increase in the prices of sunflower oil, writes the Romanian site agrointel.ro.
Analysts believe that the sunflower harvest in Romania will be the lowest for the last 15 years. Production expected this year in the 27 EU member states was previously 8.9 million tonnes, 400,000 tonnes less than consultancy Strategie Grains forecast a month ago and well below the 9.8 million tonnes harvested in 2023 y., but forecasts are falling as harvest progresses.
“As the harvest progresses, disastrous sunflower seed production is confirmed, with results expected to be the lowest for the last 15 years in Bulgaria and Romania,” the consulting firm informed in a report published on September 27.
Farmers in Ukraine save their sunflower crop. Sunflower prices in the ports of Ukraine are rapidly rising, which is accompanied by the evolution of world oil prices.
“Continuously rising prices force farmers to refrain from selling sunflower, which creates problems for factories to cover their own processing needs,” the experts explain.
Sunflower oil prices rose on the spot market by $50 and traded at the CRT port level at $990-995.
Latest buyer indications for sunflower price per ton at ports and processing facilities:
DAP Ukraine (plant) — 460-475 dollars/ton;
DAP Bulgaria (in the center) — 505-515 dollars/ton;
CIF Bulgaria (port) — 500 dollars/ton.
The price of sunflower is 2 lei/kg. (BGN 0.78/kg)
In Romania, most farmers have harvested so little sunflower that the price increase does not warm them at all, as there is nothing to sell or the sale will not have a large financial impact on the farm. Also, there are many situations where farmers have rushed to contract oilseeds that are difficult to store.
How is it here?
According to the latest overview of the Sofia Stock Exchange from last week, sunflower sellers want 870-900 BGN per ton, but there are no buyers.
The information board of the Bulgarian Ministry of Agriculture reports that as of September 18, the purchase prices of sunflowers are around BGN 850. On an annual basis, the price increase is by 12.3%, on a monthly basis by 6.4%, and on a weekly basis by 2.3%.
Today, the chairman of the State Commission for Commodity Exchanges and Markets, Vladimir Ivanov, told BNR that the price increase of oil, which was warned by processors, will not take place, as the price is expected to be depressed by imports.
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