Ukraine: The remaining volumes of sunflower
The remaining volumes of sunflower at enterprises, whose main activity is processing and storing this crop, as of February 1, amounted to 5.06 million tons, which is 378 thousand tons less than the last year’s figure. Last year this figure was 5.4 million tons.
Such information was provided by the State Statistics Committee.
The biggest amount of sunflower is stored by agrarians of Dnepropetrovsk, Kharkov and Odessa regions, The bins of these regions contain 505.000 tons, 457.000 tons and 434.000 tons, respectively.
The smallest quantity of this crop is stored in Rivne, Chernovtsy and Volyn regions. In the bins of these regions there are nearly 26.000 tons, 23.600 tons and almost 13.000 tons, respectively.
It should be recalled that during the 2017, 73.23 thousand tons of sunflower were exported from Ukraine to foreign markets. The amount of export was 29.7 million dollars.
At the beginning of this month, a significant amount of sunflower remained in Ukraine. This is due to the increase in its production and exports in the previous year. According to statistics, at the beginning of this month, sunflower residues amount to more than 2 million tons.
These balances may have an impact on the global sunflower market. They can increase competition in the market, which can lead to lower product prices. Also, the balances may affect the volume of exports in the current year. Increasing exports could become a problem if world market prices fall, resulting in lower export earnings.
In general, Ukraine remains one of the largest sunflower producers and exporters in the world. Thanks to good weather conditions and high yields, Ukrainian farmers can continue to increase sunflower production and exports. However, it is necessary to take into account global competition and changes in the world market in order to effectively use the available resources.
