Sunflower oil stocks in Argentina will decrease at the start of 2024/25 MY
Argentina may start the season-2024/25 with lower stocks of sunflower oil compared to the previous crop year. According to the forecast of the Foreign Agricultural Service of the USDA, at the beginning of 2024/25 MY the country will have about 224 thsd tonnes of the product, compared to 265 thsd tonnes in 2023/24 MY and 282 thsd tonnes in 2022/23 MY.
As for production, it is also expected to decline to 1.5 mln tons from 1.63 mln tons a year earlier. Against the same background, export volumes may decline by 15% to 850 thsd tonnes compared to the level of 2023/24 season.
The situation with sunflower meal is generally similar: the estimate of its output in the new season is still at almost 1.55 mln tonnes, compared to 1.643 mln tonnes in 2023/24. Exports are expected to decline from 1.1 mln tonnes to 875 thsd tonnes.
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