Oilseeds production in the Black Sea Region in 2018/19 to reach 47.1 mln tons

In MY2018/19, the total production of oilseeds in the Black Sea Region (Ukraine, Russia, Romania, Bulgaria, Moldova) should reach a record level of 47.1 million tons. This is informed by Julia Ivanitskaya, the oil markets analyst at APK-Inform.

Including from the specified volume, sunflower seeds volume should stand at 31.7 million tons (70%), the production of which will increase by about 10% to the average for the previous 3 years.

"In general, sunflower production in the Black Sea Region shows a steady growth trend, which has led to an increase in the region’s share in world oilseed production in recent years to 65%," the expert notes.

The expert also voiced the agency’s estimates regarding the bulk yield of sunflower in 2018 in the Black Sea countries:

• Ukraine — 14.8 mln tons (+10% y-o-y);
• Russia — 10.9 mln tons (no change);
• Romania — 2.7 mln tons (–8%);
• Bulgaria — 2.44 mln tons (+19%);
• Moldova — 0.9 mln tons (+6%).

The analyst reminds that this region is the world leader in the export of sunflower oil, mainly due to Ukraine and the Russian Federation, as well as sunflower seeds (Moldova, Romania and Bulgaria).

Previously it was reported that by the data of the State Statistics Service of Ukraine, as of September 1, sunflower stocks in Ukraine had reached 1.83 mln. tons, having significantly exceeded the last year's indicator of 672.0 thou. tons.