Approaching Gulfood we see that after a period of low prices and mediocre demand, the market is stabilizing. That being said, buyers remain in a hand-to-mouth mode as they are awaiting with great anticipation what the crop from Argentina is going to do. Sources indicate that the crop will be lower than last year, which was already significantly lower than the year before that. If this will have an influence on the price has yet to be determined.
Current weather conditions in CEE region are severe as heavy snowfalls and extreme cold are causing delays for shipment and processing. Luckily Red River keeps buffer warehouses close to the port of Varna to ensure its supplies.
First indications for next crop in CEE region, is that farmers are even more hesitant than last year, as prices for confectionery sunflower seed are at a lower level than last year. It has to be seen if they are willing to plant the confectionery type or go for the oil types (black sunflower seeds).
USA crop numbers are in and showed a production decrease of 47% compared to last year, nonetheless the yield turned out to be the second highest. This can also be seen in the quality, which is fairly good, with little to no issues.
For the latest market information or price updates, please contact us or visit us at Gulfood.
You can find us at Gulfood S3-D14 in the USA Pavilion.