USDA DOWNGRADES FORECAST FOR SUNFLOWER HARVEST IN UKRAINE IN 2017 BY 500,000 TONNES

Business news from the Ukrainian League of Industrialists and Entrepreneurs

USDA DOWNGRADES FORECAST FOR SUNFLOWER HARVEST IN UKRAINE IN 2017 BY 500,000 TONNES

13 Nov , 2017  

KYIV. Nov 13 (Interfax-Ukraine) – The United States Department of Agriculture (USDA) in November downgraded its forecast for sunflower harvest in Ukraine in 2017 by 500,000 tonnes compared with the forecast in October, to 13 million tonnes.
According to a report on the website of the U.S. department, the forecast for sunflower oil production in the 2017/2018 marketing year (MY, September-August) was reduced by 194,000 tonnes, to 5.59 million tonnes, exports by 150,000 tonnes, to 5 million tonnes.
According to USDA forecasts, production of sunflower meal in Ukraine in the current season will amount to 5.369 million tonnes, its exports will stand at 4.5 million tonnes.
According to the estimates of the U.S. agency, in the 2016/2017 MY Ukraine supplied 5.85 million tonnes of sunflower oil to foreign markets with production being 6.35 million tonnes.
According to the State Statistics Service, Ukraine in 2016 increased sunflower harvest by 21.7% compared to 2015, to 13.6 million tonnes.
Ukraine is the world’s leader in production and export of sunflower oil.