By KYIV. Oct 24 (Interfax-Ukraine) – Competition between Ukrainian and Russian sunflower oil on the world market in 2023/2024 MY will be very high, especially in the markets of India, China, Asia and Africa, said Viktoria Blazhko, head of the department of agricultural markets in the Black Sea region of the APK-Inform analytical agency, at the XXI International Conference Fat&Oil Industry 2023.
According to her information, Ukraine remains the world’s largest exporter of sunflower oil, despite the disruption of supply chains. However, Ukraine’s share in world exports is declining due to increased exports of sunflower oil from Russia.
“The pressure from the Russian Federation is increasing… Russian products are exerting pressure by improving quality, prices and increasing sunflower production volumes,” the expert explained.
She emphasized that the main “battlefield” in this confrontation is India and China, other countries in Asia and Africa.
“Russia is becoming the main supplier of sunflower oil to China… The Chinese are interested in Ukrainian oil, but they will only buy it from Ukrainian ports, precisely those shipped from ports. As for India, Ukrainian products retain their market share, but pressure from Russia is increasing,” she emphasized.
She also drew attention to the important news for the market about the ban on the import of vegetable oils by Iran from October 23. Iran is a major buyer of Russian sunflower oil. All products shipped to this country will end up on the world market and will put additional pressure on the export of products from Ukraine.
