Sunflower Oil Prices in Bulgaria Expected to Rise Slightly

An increase in sunflower oil prices in Bulgaria is anticipated, but it is not expected to be significant. According to Vladimir Ivanov, chairman of the State Commission for Commodity Exchanges and Markets, any price rise will likely be between 5% and 10%. This expectation comes in light of a weak domestic harvest, which typically influences prices. However, Ivanov reassured that the European market would compensate for potential shortages in Bulgaria, ensuring that any increase remains modest.

Sunflower producers and processors have also indicated that there will not be a dramatic spike in sunflower oil prices. Currently, both European and global markets have been stable, with prices remaining unchanged for over six months. Ivanov noted that while reduced domestic production is concerning, there is no shortage in the market, as imports will help balance any higher domestic prices.