Source: Oleoscope (Russia)
In Bulgaria, the production of sunflower oil has recently decreased, primarily due to a lack of raw materials, as noted by the local publication Bourgas, which referenced Yani Yanev, the chairman of the Bulgarian Vegetable Oil Producers Association.
Yanev indicated that “At present, international market prices are low, and there is also no increase in the domestic market despite the overall rise in commodity prices. Our processors are shutting down because of the scarcity of raw materials. The raw materials that are available are being sold at excessively high prices.”
The nation has experienced the lowest sunflower harvest in ten years, attributed to hot and dry summer weather. The total oilseed yield is projected at 1.6 million tons, marking a decline of 2 million tons compared to the previous year. The sunflower yield has dropped by 15% to 1.5 million tons, even with an increase in the area planted.
The local processing industry continues to struggle with the escalating costs of raw materials alongside low prices for processed products. For the third year in a row, processing capacity is expected to remain underutilized.
Yanev summarized the situation by stating, “When we are unable to produce oil at competitive prices, it will have to be imported.”
