International trade - Fork Cast

The National Commodity Exchange has launched a test calculation of new exchange indices for sunflower seeds, rapeseed, and margarine. The indices display prices per 1 ton of the product. The calculations are based on NTB auction prices including VAT. Market interest in the new indices is planned to be evaluated.

The USMCA Trade Commission has deemed Mexico's ban on genetically modified corn from the USA as illegal. Mexico disagrees with the decision, stating that it is based on health protection. The appointment of Mexico's new president has not influenced the decision to maintain the ban.

India extends the temporary ban on futures trading of key agricultural commodities until January 2025. SEBI has shortened the ban by one month, signaling a possible resumption of futures trading at the beginning of next year. The decision has a positive impact on the oilseeds market in the country.

Production of soybeans in the EU has decreased due to poor weather conditions. The European Commission has reduced the forecast to 2.8 million tons, which is 10,000 tons less than the previous year. In Romania, the harvest has decreased by 44%, reaching 171,000 tons. Hungary has increased production by 50%, but yields remain below average. Italian companies have reduced soybean imports by 5%. Sunflower crop in the Balkans is also expected to be low due to bad weather.

In Kazakhstan, the harvesting of oilseeds, including sunflower, has been successfully completed. The gross yield has increased by 46% compared to the previous year, however, the prices for seeds are rising due to their shortage. This leads to a decrease in the profitability of oil plants, but will allow farmers to increase revenue in the next season.

The Russian government has established a tariff quota for the export of sunflower seeds from the Zabaikalsky Krai: 9300 tons until August 31, 2025. The regulation comes into effect in 7 days.

The start of Russia's agricultural exports in 2024 showed a 10% growth in volume, but a decrease in value, which Krasnov hopes to rectify by the end of the year. The potential for further development is seen in the export of meat, milk, and processed products. Russia plans to export more than 108 million tons of products abroad in 2024.

In the Krasnoyarsk region, three rapeseed processing plants are planned to be built by 2029. The total project capacity will be 450,000 tons. There will be no changes in the sown areas. By 2024, a plant with a capacity of 72,000 tons was launched, and plants will also be launched in Achinsk and Uyar districts.