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Sunflower oil update records
The export of agricultural products from Russia from 1 January to 22 December, according to the FCS, totaled $23.2 billion, which is 4.5% below last year's level, reports "Center of Agrobaltika" with reference to data of the FCS.
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Vegetable oils (mainly sunflower) in terms of value took 3rd place in the structure of exports (13.7 per cent), second only to the grain (32.4 per cent) and fish (19.8 per cent). Last year the oil were also on the 3rd place with a share of 10.5%, whereas grasses accounted for 41.8% of the fish by 17.4%.

The volume of sunflower oil production with each season exceeds the levels of previous years. With relatively stable domestic demand, strengthening of export prices, which lasts from December 2018, as well as increase of capacities of the terminals appeared a possibility of increase in volumes of export of oil and expansion of geography of deliveries.

The volume of sunflower oil exports, according to the December 22, amounted to 2.8 million tonnes (+38% compared to last year). In 2019, as in the past, it went mainly to Iran (539,1 kt; +105% compared to the same period last year), Turkey (486,0 thousand t; +50%) and Egypt (269,5 thousand tons; -17%). It is worth noting that among the largest buyers added China (375,6 thousand t; +97%) and India (200,5 thousand tons; 12 times more). The main reason for the growth of exports of oil, high yield of sunflower in 2018 and 2019, which allowed to increase the export potential of the country.

Review "Center Agrobaltika": In General, the conditions for the development of the market of sunflower oil in the country can be called favorable. Sunflower stocks as of December 1, 2019 are at the maximum for the last years the level of 3.1 million tonnes (against 2.9 million tons in 2018). Export prices for Russian sunflower oil is growing with the support of world quotations, as well as with the introduction of Argentina duties on exports of soybeans and soybean oil to 33%. Domestic sunflower prices are also rising. According to the data of regional agricultural administrative bodies on December 19, the national average price of sunflower was 16 650 RUB/t (+1.7%), which favorably affects the financial condition of producers and suits processors.

Translated by service "Yandex.Translation"
Источники: Agro2b