The competition between Ukrainian and Russian sunflower oil on the global market in 2023/24 MY will be very high, especially on the markets of India, China, Asia and Africa, said Viktoriia Blazhko, the Head of the Black Sea Agricultural Markets Department of APK-Inform, at the XXI International Conference Fat&Oil Industry-2023.
According to her, Ukraine remains the world’s largest exporter of sunflower oil, despite the disruption of the supply chain. However, Ukraine’s share in the global exports is decreasing due to the increase in sunflower oil exports from Russia.
“Russia’s pressure is increasing… Russian products exert pressure by improving quality, price and increasing sunflower production,” the expert explained.
She emphasized that the main “battlefield” in this confrontation is India and China, other countries of Asia and Africa.
“Russia is becoming the main supplier of sunflower oil to China… The Chinese are interested in Ukrainian oil, but they will buy it only from Ukrainian ports, shipped from ports. As for India, Ukrainian products retain their market share, but the pressure from Russia is increasing,” emphasized Ms. Blazhko.
She also drew attention to the important news for the market about the ban on imports of vegetable oils by Iran starting from October 23. Iran is a major buyer of Russian sunflower oil. All the products shipped to this country will end up on the global market and put additional pressure on the export of products from Ukraine.
