According to the customs data, in January, Ukraine exported a record monthly volume of sunflower meal this current season – 622 thsd tonnes, up 37% m/m and up 2.2 times y/y.
Svetlana Kirichok, oilseed analyst at APK-Inform, said that higher January export is based on stronger supplies to China (+56% m/m) and the EU (+41% m/m). However, the share of the EU in the general export structure of sunflower meal is declining, while the share of China is growing.
“In September-January 2021/22 MY, China showed record pace of purchases of Ukrainian sunflower meal (+36% y/y). At the same time, the shipments to the EU declined to the lowest level since 2009/10 MY”, – she noted.
In September-January, the export of Ukrainian sunflower meal exceeded the last year’s figure for the first times this season (+3%). However, the shipments to the EU decreased significantly – to 384 thsd tonnes (-43%).
“Lowering of sunflower meal export to the EU has been observing for the last several seasons. There are a number of reasons for this. First of all, the opening of Chinese market for Ukrainian sunflower meal resulted in a shift of Ukrainian exporters to this market due to more attractive prices. Besides, higher production and processing of oilseeds in the EU are cutting the demand for imported meal”, – the expert explained.
According to the European Commission, the share of Ukrainian origin in the general structure of the EU’s import of sunflower meal felt behind this of Russian origin for the first time over the long period. The share of Ukrainian origin is 37% this season, Russian – 40%.
