SPANISH SUNOIL EXPORTERS SEEK SEED CLEARANCE
Spanish exporters are asking the
government to clear 33,200 tonnes of sunflower seed authorised
for export by the European Community (EC), a spokesman for one
of Spain's major sunflower oil producers said.
    He told Reuters 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
year's 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 370,000 tonnes
this year from 340,000 last year, with seed output up at
905,000 tonnes from 860,000 last year.
    He said domestic consumption was falling due to imports of
other edible oils. "We estimate demand at 296,000 tonnes this
year, leaving a 124,000 tonne surplus with the 50,000 tonnes
now stockpiled," he said. "If we discount 24,000 tonnes held for
strategic purposes, this still leaves us with 100,000 tonnes."
 Reuter
