In the EU market, sunflower oil prices are declining, due to high stocks of both oil itself and sunflower seeds. Thus, according to experts of Oil World (Germany), as of April 13 prices for sunflower oil on the FOB Rotterdam basis amounted to 1030 per ton (-$35 per ton for the week).
According to analysts, in the first half of 2022/23 MY, sunflower seed stocks in the EU countries increased to 6.27 million tons, which is significantly higher than in the same period last season (5.96 million tons). At the same time, this growth was primarily facilitated by a record high import of oilseeds. According to Oil World (Germany), in August-January 2022/23 MY, the European Union purchased 1.33 million tons of seeds, while in the same period of the 2021/22 season – only 0.27 million tons.
In addition, despite a slight reduction in oilseed production in the EU (mainly in Hungary, Romania and France) in the current season – up to 9.35 million tons, its processing volumes increased to a record 5 million tons (4.57 million tons in August-January).
It should also be noted that according to the results of the current season, analysts of Oil World (Germany) predict an increase in imports of sunflower seeds by the EU countries to 2.28 million tons (1.47 million tons in 2021/22 MY), processing volumes may increase to 9.78 (9.42) million tons, and oilseed reserves – up to 1.65 (1.5) million tons.