2024-09-30 14:51:16
The harvest is so small that higher prices cannot improve who has the financial gap from low yields
Farmers save this year’s crops from sunflower. The prices of sunflowers growing because of the poor harvest, but producers are in a hurry to sell. c Romania forecasts for sunflower production have fallen significantly, which led to an increase in market quotations and with them an increase in sunflower oil prices, writes the Romanian site agrointel.ro.
Analysts believe that the sunflower harvest in Romania will be the lowest in the last 15 years. The expected production this year in the 27 EU member states was previously 8.9 million tonnes, 400,000 tonnes less than the consulting firm Strategie Grains predicted a month ago and well below the 9.8 million tonnes harvested in 2023. ., but forecasts are falling as the harvest progresses.
“As the harvest progresses, catastrophic sunflower seed production is confirmed, with yields expected to be the lowest in 15 years in Bulgaria and Romania,” the consulting firm said in a report published on 27 September.
Farmers in Ukraine save their sunflower crop. Sunflower prices in Ukrainian ports are rising rapidly, which is accompanied by the evolution of world oil prices.
“Continuously rising prices are forcing farmers to refrain from selling sunflowers, which creates problems for factories to cover their own processing needs,” the experts explain.
Spot sunflower oil prices rose by $50 and traded at the CRT port level of $990-995.
Latest buyer indications for sunflower price per tonne at ports and processing facilities:
DAP Ukraine (plant) – 460-475 dollars per ton;
DAP Bulgaria (in the middle) – 505-515 dollars / ton;
CIF Bulgaria (port) – 500 dollars per ton.
The price of sunflower is 2 lei/kg. (BGN 0.78/kg)
In Romania, most farmers have harvested so little sunflowers that the price increase does not leave them at all, because there is nothing to sell or the sale will not have a large financial impact on the farm. Also, there are many cases where farmers rush 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 are asking for 870-900 BGN per ton, but there are no buyers.
The information board of the Bulgarian Ministry of Agriculture reports that the purchase prices of sunflowers are around BGN 850 on September 18. On an annual basis, the price increase is 12.3%, on a monthly basis of 6.4%, and on a weekly basis of 2.3%.
Today, the chairman of the State Commission for Exchanges and Commodity Markets, Vladimir Ivanov, told BNR that the increase in the price of oil, warned by processors, will not happen, because it is expected that the price will be reduced by imports.
#Sunflower #prices #rose #Romania #farmers #sell