The Ministry of Agriculture of Russia does not expect a deficit of sunflower oil amid lower sunflower seed crop this year, informed the press-service on October 20.
“We do not foresee the deficit of sunflower oil. Its production is sufficient to cover inner consumption and raise the export. Self-sufficiency in vegetable oil will be 176.3% in Russia in 2020”, - was stated in the message.
The Ministry said that the sharp appreciation of sunflower seed is based on high demand from exporters, lower production in the key countries (Russia and Ukraine) and ruble devaluation resulted in growing prices of sunflower oil.
The Ministry forecasts sunflower seed crop at 13.2 mln tonnes in Russia this year, down from 15.4 mln tonnes in 2019.