Spanish exporters are asking the government to clear 33200 tonnes of sunflower seed authorised for export by the European Community (EC) a spokesman for one of Spains major sunflower oil producers said. He tolds in a telephone interview the government was holding back on authorisation to hold prices low. They are deliberately keeping prices down to help meet this years inflation target despite the threat of a surplus on what looks like a bigger harvest than we expected he said. He said the policy of allowing stocks to accumulate had caused a price drop with raw oil prices falling to 147 pesetas a kilo from 160 at the start of the 1986/87 marketing year ending July 31. Sunflower oil output was expected to rise to 370000 tonnes this year from 340000 last year with seed output up at 905000 tonnes from 860000 last year. He said domestic consumption was falling due to imports of other edible oils. We estimate demand at 296000 tonnes this year leaving a 124000 tonne surplus with the 50000 tonnes now stockpiled he said. If we discount 24000 tonnes held for strategic purposes this still leaves us with 100000 tonnes.
SPANISH SUNOIL EXPORTERS SEEK SEED CLEARANCE