The exports of sunflower oil from Ukraine in September-April of 2023-2024 marketing year (MY) totaled over 4.4 mln tonnes, up 17% compared to the same period of the previous season, and became the second largest export volume in the history after 2019-2020 MY, when the exports reached 4.49 mln tonnes in the same period, APK-Inform news agency reported.
“The demand for this product in the current season from the key global importers was boosted by the more attractive price of sunflower oil compared to other vegetable oils, which resulted in the active increase of sunflower processing by the Ukrainian plants,” the analysts explained.
They also pointed out that an important factor is ensuring relatively stable shipments of oil by sea.
The agency’s experts reminded that they estimated the export of sunflower oil for the season-2023/24 at 5.6 mln tonnes (+4% compared to April estimates; -1% compared to 2022-2023 MY). However, given that about 79% of the forecast has already been exported, a significant decline in monthly shipments is expected by the end of the season.
“The decrease of the exports of the product in May-August of the current season may be due to the decrease of sunflower crushing amid the depletion of the stocks, which are estimated as the minimum for the last three seasons in the whole country as of the beginning of May”, – summarized APK-Inform.
