Russia’s government has approved a formula based export tax system for sunflower oil and a higher export tax on sunflower seeds The action could bring indirect benefits to America’s sunflower farmers. That’s according to National Sunflower Association Executive Director John Sandbakken.
He says despite the recent USDA report showing less sunflowers being planted this year than the industry anticipated, there’s still time for growers to change their planting decision which could lead to more sunflowers going in the ground.
Sandbakken says while the latest Drought Monitor expanded the drought areas, sunflowers have the advantage of being a good drought tolerant crop.
Sandbakken says there had been earlier optimism more sunflowers were going to be planted given the fact that there were record yields in oil sunflowers last season and prices have rallied sharply with other veg oils.
