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Trakya Association chairman Ahmet Akgun said recent rains in Thrace have improved the outlook for Turkey's sunflower harvest. He expects sunflower oil prices to ease as production rises, though he noted Turkey must import about 3.5 million tons of sunflower.
Retail sunflower oil rose to 65-70 lira per 5 kg in 2020 and 2021 from about 40 lira in 2019.
A better domestic crop reduces Turkey's import needs for sunflower seed and oil, which could soften regional vegetable oil demand. The effect on world prices is limited because Turkey remains a large importer.
bazaartimes.comBT TeamJan 22, 2021Not enough comparable past events yet for a historical read.
Moves of each commodity's benchmark from the last close before the event. Historical reads pool past events of the same kind; they describe what happened, not what will. Not investment advice.
