MUMBAI, April 19 (Commoditiescontrol): Based on information from the Fat and Oil Union, it is expected that the gross harvest of sunflower in Russia this year will remain at the same level as last year, which is 16 million tons. Mikhail Maltsev, the executive director of the union, stated in an interview with the National Agrarian Agency that there is no prediction for a reduction in the area of oilseed cultivation.
However, the Ministry of Agriculture of the Russian Federation predicts a decrease in the area of cultivation by 2.3% from 10.033 to 9.803 million hectares due to low prices and difficulties with the purchase of imported seeds.
Although it is uncertain whether the market will recover before July, Maltsev listed several factors that could potentially improve the situation, including the stabilization of the market, the end of falling prices, and a return to average monthly sales of oil and meal.
Despite the decrease in purchase prices, farmers still consider sunflowers to be a profitable crop.
According to the Fat and Oil Union's estimates, the available stocks of sunflower, which stand at 8 million tons, along with processing opportunities, will result in carry-over balances that are twice as high as last year, reaching a total of 2 million tons.
(By Commoditiescontrol Bureau; +91-9820130172)
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