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Sunflower seed kernels: Price manipulations in Bulgaria

March 16, 2017 at 11:03 AM , Der AUDITOR
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SOFIA. Extreme weather has taken Bulgaria by surprise, whereas the Russian export market is gaining ground. And to make matters worse the processors have resorted to tricks thereby leaving their customers feeling conned.

Temporary price drops

The temperatures have dropped considerably in Bulgaria and rain is likely to cause considerable delays for sowing. Some key producing regions were even confronted with snow over the last few days. The heavy rains in the East are predicted to stay over the next few days, which will delay sowing. With no shipments waiting in Varna the export market is basically dead.

In addition, the processors had temporarily dropped their prices for prompt deliveries to attract buyers. With demand increasing they have now, however, again raised prices. Most suppliers are not prepared to enter long-term contracts.

Sunflower seed kernels, Eastern Europe

type

EUR/kg

Bakery, DDP Germany

0.730

black, in shells, CPT Varna

0.355

oil seeds, Budapest Stock Exchange

0.348

Export boom in Russia

Most recent official estimate state that Russia harvested 11.01 M mt in 2016. Due to the reduction in export duties exports have peaked to a five-year high. Russia has so far exported 117,900 mt, of which 56% were sold to Turkey.

Attached Files

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Sunflower kernels bakery price chart

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