Ukraine: Forecasts on export of sunflower oil are reduced

Export supplies of sunflower oil from Ukraine in the current marketing year are forecast at the level of 5.150.000 t, which is 3% less than the previous forecast.

Such information was provided by APK-Inform.

In addition, the forecast figure is 12% less than the export of the past season. Last year, it was managed to supply 5.850.000 t of sunflower oil to foreign markets.

During the period from September to April of the current marketing year, 3.700.000 t were supplied from foreign markets to Ukraine, which is 8% less than the same figure of the previous season.

According to experts, during the period from May to June 1.500.000 t of sunflower oil will be exported from Ukraine.

It should also be recalled that the largest amount of sunflower oil was exported to India. While the main importing country of Russian sunflower oil was Egypt.

Experts note that against the background of a reduction in the production of sunflower oil in Ukraine and an increase in domestic prices for this product, a decrease in exports is expected this season. According to forecasts, Ukraine exports about 60% of its sunflower oil production, however, due to rising domestic prices for raw materials and products, the state may reduce exports to 50% of production. At the same time, some analysts point to a possible increase in sunflower oil exports to China on the back of increased demand for this product due to soybean crop problems.

Ukraine is one of the largest producers of sunflower oil in the world and a leader in its export. However, production cuts and price increases could negatively affect exports and earnings from this product. At the same time, an increase in demand for sunflower oil in China may become an additional factor that will help keep exports at a fairly high level.