Mumbai, 14 Jun (Commoditiescontrol): The global supply of sunflower seeds and stocks for processing is expected to decrease in the 2024/25 marketing year (MY), according to Kyle Holland, a senior analyst at Mintec. This announcement was made at the VegOil & Meals Trade conference held on June 14 in Seville, Spain.
Strategie Grains and Mintec project that the global supply of sunflower oilseed (production and stocks) will decline to 60.55 million tonnes from 61.57 million tonnes in the current season.
The speaker highlighted that while the European Union countries are predicted to see a slight increase in sunflower seed harvests (up to 10.72 million tonnes from 9.7 million tonnes in 2023/24 MY), leading producers like Ukraine and the Russian Federation will see a reduction. Ukraine's gross harvest is expected to drop from 14.6 million tonnes to around 14 million tonnes, and Russia's from 17.44 million to 17.03 million tonnes.
Also, Holland noted rising prices for sunflower seeds and sunflower oil across all bases, starting from September 2023.
(By Commoditiescontrol Bureau; +91-9820130172)
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