The average annual price of sunflower oil in Russian manufacturers next year can decrease dramatically. It is reported by RIA Novosti with reference to the results of the study of Sberbank CIB Investment Research.
Analysts predict that the cost of production will chef to 70.5 rubles per kilogram, which is 19 percent below the current level of the current year – 87 rubles per kilogram. This will affect this, in particular, the variable export duty in September 2021.
also notes that against the background of high world prices for vegetable oils, sowing areas under sunflower in Russia increased by 13 percent for a year, to record 9.6 million hectares. In turn, the yield of this culture can grow by six percent, up to 16.9 centner with hectares, and oil production – up to 6.6 million tons in the season 2021-2022 of agricultural generation.
“in the medium term, 2022-2025, sowing squares and sunflower yield will grow by an average of 1.7 percent per year, which is about two times lower than the growth rates in the previous five years,” the study says.
In this case, the production of sunflower oil by the end of the specified period will grow to 8 million tons per year, 80 percent of the increase can be directed to an increase in exports, 14 percent – to increase internal consumption, and six percent will increase in increasing reserves.
August 12 reported that the cost of sunflower oil accelerated in Russia from August 3 to 9 compared with the previous week. In 30 Russian regions, goods were more expensive than 0.1-1 percent, in six subjects – by 1.1-4 percent.