Experts reduced world sunflower production forecast

According to USDA experts, global sunflower production in 2019/20 will drop to 50,95 million tons compared to a record 51,47 million tons in 2018/19, USDA reports.

Thus, Ukraine should reduce production from 15 to 14,8 million tons, Russia — from 12,71 to 12,5 million tons, Turkey — from 1,8 to 1,55 million tons.

In parallel, the world production of sunflower meal will increase from 21,13 to 21,34 million tons and sunflower oil from 19,69 to 19,9 million tons. USDA forecasts Ukraine to reduce the production of these products whereas Russia is expected to increase the output.

The forecast for world imports of sunflower seeds increased to 2.29 million tons, sunflower meal — to 7,52 million tons, sunflower oil — to 8,84 million tons. Turkey and the EU countries will stay the main importers of these products.

Ukraine has increased the area of sunflower crop from 5,7 to 5,8 million hectares as compared with the previous year. In Russia, sunflower was sown on 8,1 million hectares or 104.5 per cent of the planned areas compared to 7,8 million hectares last year.

Previously it was reported that Financial Company Sky owned by Andrey Verevskiy, Chairman of the Board of Directors of Kernel, with an offer of UAH 182,5 million became the winner of the Deposit Guarantee Fund auction for the sale of Delta Bank’s pool of assets for UAH 4,85 billion held on June 7th.