European sunflowers are in high demand
"Political" reported on September 1 that sunflowers in Serbia are being harvested, and sunflower seeds are being welcomed at the Novi Sad Product Exchange. According to information published on the "Agroklub" portal, the pre-sale price of sunflower seeds is around 60 to 65 dinars per kilogram of this, and the product exchange declared last week the price per ton at 555 to 560 euros or about 65.5 dinars per kilogram you.
Ukrainian supplies are not yet known, so the world market for sunflower oil remains volatile. Trading in sunflower oil has only lasted about a month and a half, and expectations that more supplies from Ukraine will enter the market are slowly fading. Shipping from Odessa and the other two Black Sea ports has slowed a lot, shipping lines are not ready to take on more risks, they are also burdened with higher insurance costs, and the whole process is time-consuming because of the wide range of controls If it is too long, the cost of chartering will increase, and merchants will be more cautious.
Ukraine, the largest producer of sunflower oil, will struggle to be a reliable supplier this season, with a large number of factories either not producing or having reduced processing capacity, according to previously published information.
Analyst Branislav Gulan said earlier that there are about 24 million hectares of sunflowers planted globally, with the majority in Europe (65%), followed by Asia and South America. The main suppliers are Russia and Ukraine, with relatively few countries engaged in the production of sunflower and sunflower oil resulting in intensive trade.
Europe's largest farmers' association "Kopa Kogeka" last month forecast that EU sunflower production will reach 32.1 million tonnes, 8.5% more than in 2021, as EU farmers have grown 1 million hectares of sunflowers compared to the previous season, and that about 20 million hectares will be processed in Europe this year. % of sunflower oil to stabilize the market, prevent severe shortages and reduce dependence on Ukraine. As for the price and whether there is enough supply, still a lot depends on the availability of supplies from Ukraine, which will not be known until the sunflower harvest at the end of September at the earliest.
Although the drought has severely hit sunflower production in Europe and Serbia, the area planted with sunflowers in Cyprus is larger than last year, and Cyprus is expected to be able to produce 80,000 to 100,000 tons of oil, enough for export and domestic consumption.