Largest importers of Ukrainian sunflower oil increased the purchasing volumes
In October 2013 the supplies of Ukrainian sunflower oil to the major countries-importers of the reporting products significantly increased. Rather attractive prices for sunflower oil, which developed in the reporting period on the market, influenced on development of the reporting trend.
According to analysts of APK-Inform Agency, in particular in the reporting period India received 130.03 thsd tonnes of Ukrainian sunflower oil, against 86.29 thsd tonnes in the previous month. The imports of the oilseed by-product to Egypt totaled 63.4 thsd tonnes (13 thsd tonnes), Turkey - 11.5 thsd tonnes (8.86 thsd tonnes).
We should note that in October 2013 China imported 105.13 thsd tonnes of Ukrainian sunflower oil, against 3.59 thsd tonnes only in the previous month. The increasing of demand for the commodity caused growing of the supply volumes to the country, because the domestic production can not meet the growing needs.
Thus, it is possible that in the season-2013/14 the import volumes of Ukrainian sunflower oil to China may exceed 0.5 mln tonnes, forecasted by analysts of Oil World. Also, China may start purchasing sunflower oil from Russia to meet the domestic needs, which however will require additional approval of the phytosanitary standards for these commodities.
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March 7, 13:30