Argentina's sunflower seed area is expected to rise 10% on the year in the 2011-12 season as soaring prices spur..
As per reports and information from our sources,Argentina's sunflower seed area is expected to rise 10% on the year in the 2011-12 season as soaring prices spur farmers to increase planting.Argentina is the world's No.2 sunflower oil exporter, trailing only the Ukraine last year.Argentina's fields are in good shape after recent steady showers, and sunflower planting is set to kick off in about a month.Farmers are optimistic with current sunflower oil export values of $2,400 a metric ton, up from $950 a ton a year ago.Argentina planted 1.65 million hectares with sunflowers the previous season.Despite the positive signs from local farmers, the USDA is expecting Argentina's sunflower oil production from the 2011-12 season to total 1.26 million metric tons, unchanged from 2010-11.
Buenos Aires stocks were 1.2 percent higher today, with the Merval benchmark stock index reaching 2,453.06 points.