By KYIV. Nov 9 (Interfax-Ukraine) – In the 2022-2023 marketing year, Ukraine managed to maintain a wide geography of exports of refined sunflower oil – to almost 120 countries, of which 40% accounted for the European Union, but this is 5% less than a year earlier, oilseed market analyst from UkrAgroConsult analytical agency Svitlana Kupreyeva said.
According to the report, the top importers of Ukrainian refined sunflower oil also included Turkey, Malaysia, and Jordan.
Kupreyeva noted that in 2022/2023 MY, in addition to the low sunflower harvest, power outages, problems with the sale of products and the low throughput of the “grain corridor,” the end of the season was compounded by its absence and worsening logistics problems.
“Large ending stocks of sunflower and finished products, which were initially seen as a burden, compensated for the decline in the harvest and allowed the industry to operate and increase the export figures of our strategic product – sunflower oil. Some players have chosen refining as one of the ways to solve current problems and maintain business in an efficient state “, the expert explained.
According to her information, in 2022/2023 MY, exports of refined sunflower oil from Ukraine increased by 7% compared to 2021/2022 MY. The pace of refined oil shipments remained stable throughout the season. The share of refined oil exports in total exports decreased, but remained one of the largest indicators – 9.7%.
UkrAgroConsult predicts a further decline in exports of sunflower oil by 7.6%, and refined sunflower oil by 8.6% (500,000 tonnes) in 2023/2024 MY.
