Main news of the day, 28.03.2017: Ukraine and Russia reduce sunflower plantings, India changes the rules of operation in the vegoil market

29.03.2017

Ukraine. Sunoil prices fell sharply

Details

Ukraine and Russia set to reduce plantings of the key oil crop

According to the FAS USDA, the world’s top sunseed growers are planning to reduce sowings of this oilseed in 2017, therefore a sharp decrease is expected in its harvest and consequently in sunoil production and exports.

Kazakhstan placing its stake on rapeseed

According to official information, a total area of 22 Ml ha will be seeded to crops in Kazakhstan in 2017. The most significant expansion will be in rape plantings (+ 34%).

India changing the rules of operation in the vegoil market

The government of India has permitted vegoil exports in bulk. Only vegoil exports in consumer package (up to 5 kg) were allowed before.

As a reminder, the government of India previously lowered its import duty on sunseed from 30% to 10% for the period from April 1, 2017 till September 30, 2017.

Bangladesh planning to boost domestic crushing of sunseed

Globe Pharmaceutical Group intends to build a sunoil plant to meet demand from the nation’s middle-class population, who increasingly care about their health. The plant’s processing capacity is designed at 1200 MT of sunseed a day.

 

UkrAgroConsult

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