Ukraine war is pushing sunflower prices to record highs
The war in Ukraine is pushing sunflower prices sky-high.
The record highs for both the old and new crops in the previous market were surpassed in late April at crush plants. The Executive Director for the National Sunflower Association says that there are two reasons for these high prices.
According to John Sandbakken, “Last year, we had a smaller crop in the main garden region, you know in the central U.S., due to the drought conditions, and, so you know, we started off this marketing year with lower stocks than normal for our crop and then also after the Russian invasion of Ukraine that really ramped things up and the demand for sunflower oil just ran off the charts.”
He says that he expects this high demand for sunflower oil will stick around for next year too.