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Importers of sunflower oil warn again that from June the market will be short of supplies with this product, due to falling supply in Bulgaria, Serbia, Hungary and high prices up to 430 lek per liter.
While Northern Macedonia will continue to block imports of sunflower oil to other countries until May 15.
The big oil traders say that for more than 1 month they are not packing the imported oil, because for 3 weeks the transparency board of the basket goods has kept unchanged the price of edible oil of 315 lekë for wholesalers and 321 lekë for liter for the consumer, while the price of supplies is more expensive. Importers warn that they will intensify demands for changing oil prices, as this situation is hurting companies in liquidity.
“The situation in the import of sunflower oil is chaotic. Oil and transportation prices are rising every day, while the board has not reviewed prices for 3 weeks, with the justification that no new supplies have been made and sales have fallen 50% from deposits created by households in February. This situation has hurt many operators who for more than 1 month do not package edible oil, as import prices are higher than those of sales set by the board. Pricing by the transparency board has unleashed free business initiative to find solutions. We are going around a situation that risks not having oil on the market starting from the summer season. “For this reason, importers will soon intensify the requests for price review by the transparency board, because in addition to being in difficulty in finding the goods, we do not have liquidity to buy”, stated for “Monitor” one of the major importers of sunflower oil .
To assist importers in securing supplies for a period of 3 months the Ministry of Finance proposed the sovereign guarantee scheme, guaranteeing 60% of the loan amount, while the rest of the risk should be borne by the lending bank. According to market players, no enforcement procedure has been launched so far.
Some importers have managed to provide limited quantities of oil from Ukraine at a price of 340 to 350 lek per liter. Already due to the bombings in Eastern Ukraine operators have cut off supplies from this country. Ukrainian supplies last on the market for 1 month. Importers have previously warned that Ukrainian supplies, priced at 40 lek cheaper per liter, carry the risk of the cargo not arriving due to the war. Businesses in Ukraine, fearing the depletion of their reserves, tried to find export routes in the form of trans-shiping (passing from train bankers through the worlds of transport trucks to 3 countries bordering Ukraine, such as: Poland, Hungary and Romania.
Meanwhile in Bulgaria and Serbia the price of oil continues to be high in the values of 420 to 430 ALL per liter with VAT. In Europe due to declining supply, the amount of imports is limited. For sunflower oil the situation is aggravated, as 80% of world consumption is covered by Ukraine and Russia. In these countries in March it was not possible to sow sunflower seeds in March./D.Azo/Monitor.al
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