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Oil war: they want to make a sunflower oil as an olive oil competitor.

Oil war: they want to make a sunflower oil as an olive oil competitor.
date 26.09.2017 category Market news

Oil war: they want to make a sunflower oil as an olive oil competitor.

According to the official statistics, production of unrefined sunflower oil has increased by 38.3% up to 3.3 mln.t. for 8 months of 2017. Little productions show a growth like this. Herewith, global prices for this product for the last three years came down from $1000/t to $700/t. And the domestic consumption reduces little by little at the same time. That’s why producers are looking for opportunities to earn more not only by means of increase in product output. In particular, due to refining, deodorization and further pre-packaging of sunflower oil, since prices at the markets of these products show a great stability. Both at the domestic market and external market, providing foreign currency earnings to manufacturers.