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21 November, Thursday

Ufa   °

Sunflower prices fell to five-year lows due to record crop

Economy/Business

UFA, 22 October 2019. /Bashinform News Agency/ translated by Tatiana Aksyutina/.

In Russia, the sunflower market fell to 16 thousand rubles per 1 ton, according to analysts at the “SovEcon” center. This is the lowest level since November 2014, when sunflower prices amounted to 15.5 thousand rubles per ton, recalls AgroInvestor publication.

According to the forecast of “SovEcon”, the sunflower crop in Russia in 2019 will amount to 13.9 million tons compared to 12.8 million tons in 2018. Oil crop yields are 18% higher than last year. In Bashkortostan, according to the regional Ministry of Agriculture, the yield of sunflower averages 14.7 centner/hectare, against 13.1 centner/hectare at that time last year. To date, farmers have harvested a little more than 211 thousand tons of sunflower, 60% of the area has been harvested.

According to the results of 2018, sunflower and rapeseed oil amounted to 24% of the share of export deliveries of agricultural producers in the republic. Total, Bashkir agrarians exported products worth $ 76.3 million — more than 2 times more than in 2017.

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