Global sunflower production in 2017/18 increases to 49.1 MT

In the June report, Oil World experts forecast an increase in global production of sunflower seeds in MY2017/18 by 0.4 million tons as compared with May indicator of 49.1 million tons, APK-Inform writes.

This increase was provided by Ukraine (to 13.4 million tons) and by the EU (to 9.8 million tons).

Ukraine and the EU countries in the period from April to September 2018, according to experts, will increase the processing of oilseed crop to 19.7 million tons.

Import and processing of sunflower will increase in Turkey in the current MY — up to 700 thou. tons and 2.22 million tons, respectively, which exceeds the volumes in the previous season (611 thou. tons and 2.02 million tons).

The forecast for global sunflower production in MY2018/19 is estimated at 50.42 million tons.

Among the production leaders are the following states:

• Ukraine — c.14.5 million tons (+7.5% as compared with the May forecast);
• Russia — c.11.4 million tons (+4.4%);
• Argentina — c.3.85 million tons (+10%);
• the EU — c.9 million tons (–7.7%);
• Turkey — c.1.5 million tons (–12%).

As a result, experts project the global supply of oilseeds in MY2018/19 at the level of 54 million tons, which is 1.11 million tons higher than the indicated level in MY2017/18 (52.91 million tons). This will increase sunflower seeds processing to 45.2 (44.4) million tons. The global stocks of the crop are also expected to increase to 3.8 (3.6) million tons.

Reference: in January-May 2018, Ukraine exported 2.43 mln tons of sunflower oil for the amount of USD 1.84 billion, which is 8% (or 0.21 million tons) less than over the relevant period in the year 2017.