Romania switches to sunseed imports
Spot FOB price of the Black Sea sunseed continues to go up to multiyear highs on the acute domestic demand of Ukrainian and Russian crushers, as well as from the EU countries. Over the month the price gained another USD 100/mt FOB (+71% y/y).
In July-November 2020/21 EU imported 327 KMT of sunseed (+63% y/y) with Bulgaria and Romania taking the largest volumes.
In 2019/20 these two countries took more than 50% of sunseed imported by the EU (around 1 MMT) and continue to increase imports due to the lack of own crop.
Russia remains the top supplier for the EU – 122.5 KMT (36%), followed by Moldova – 79 KMT (24%).
Late in October Turkey joined the list of those willing to import lots of sunseed (USDA: 850 KMT), lifting the import duty. That will keep the price for sunseed and sunoil well supported during the season, UkrAgroConsult reports.
More detailed information on the latest trends in oilseeds/vegoils exports, supply and demand balances with breakdown by crop, price behavior, crop conditions and progress in harvesting/planting in the countries of Black Sea Region is available to subscribers for Online Analytics “Black Sea Vegoils” in the new innovative tool for agri market participants – AgriSupp by UkrAgroConsult. Subscribe to a 7-day free trial!!
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