According to current forecasts, global oilseeds production in the 2019/20 season will fall by 5%. The soybean and rapeseed crop is expected to decrease, while the sunflower seed crop will grow, reports UkrAgroConsult.
The sunflower oil trade remains a topical issue for Black Sea countries, as they are tasked to process and sell their record sunflower seed crop. Toughening competition for export markets is seen between Ukraine and Russia, which are the world’s top exporters of sunflower oil.
As before, the biggest importers of sunflower oil include India, the EU and China, which account for a combined almost 60% of its total global sales.
Competition between Ukraine and Russia for the Indian and Chinese markets will toughen in MY 2019/20. The 2018/19 results indicate the beginning of this process. Russia increased supplies to China and India.
The weather on November 11-20 was mostly variable, foggy and quite warm for this time of year.