Russia is banking on sunflower seeds

Russia is banking on sunflower seeds

Demand for sunflower seeds is mainly formed by processing companies in Russia, which are increasing their production capacity, World of NAN reports citing Agrotrend.

The growth in processing is linked to rising exports. Last year alone, the neighboring country exported 6.5 million tons of oil. This is 30% more than in 2022. At the same time, it was mainly sunflower oil that was exported - 4.3 million tons. The main importers were China and India.

Russia is striving to become the leader in sunflower oil exports. Analysts predict that up to 7 million tons of sunflower oil will be produced in the new season, and 4.8 million tons will be exported.

At the same time, oilseeds remain a marginal crop inside the country. There is a relative strengthening of prices in the market, where sunflower is the second most marginal crop after soybeans. Among other things being equal, the profitability of its production remains one of the most profitable among other crops.

It is not profitable for farmers to export sunflower seeds because of the huge export duty of 50%. But it is worth remembering that within the EAEU imports to Kazakhstan are not subject to duty. In case Russian processing cannot cope with the volume of grown sunflower, it will flood into our market.

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