Ukraine: Export volumes of oil and meal through seaports increased

During 12 months of 2017, 7.750.000 t of vegetable oils and oilseed meal were exported from seaports, which is 27% more than the same figure of the previous year.

Such data was provided by APK-Inform.

Export of sunflower oil through seaports of Ukraine increased by 23%. Earlier this figure was 4.070.000 t, and now has reached the level of 5.010.000 t. However, the export of soybean oil decreased by 73% and now amounted to 10.000 t. The exports volume of rapeseed oil also decreased by 39% and now the exports volume of this type of oil is 15.000 t. The largest increase in export of meals was the export of rapeseed meal. In 2016, the exports volume of rapeseed meal amounted to 13.000 t, while in 2017 the export volume amounted to 104.000 t.

The main importers of sunflower oil from Ukraine during the 12 months of 2017 were India (the exports volume to this country amounted to 1.950.000 t), Spain (the exports volume to this country amounted to 510.000 t) and the Netherlands (the exports volume to this country amounted to 435.000 t).

The main consumer of sunflower meal in 2017 was France (exports volume amounted to 449.000 t). Most of the rapeseed meal was imported by the Netherlands (the export volume to this country was 65.000 t). And the biggest amount of soybean meal was exported to Georgia (the export volume to this country amounted to 23.000 t).

Oil and meal are important components of agricultural production and exports, and their growth in exports through seaports has a positive effect on the development of the Ukrainian economy. However, such growth may lead to an increase in prices for oil and meal in the domestic market, which will negatively affect consumers in the country.

Nevertheless, the export of agricultural products is an important source of income for Ukraine, and further development of this direction can contribute to economic growth and increase the welfare of citizens.