For 5 recent years, the global production of sunflower oil increased by almost 30%, while the trading rates of the product increased by 40%. The reporting trend developed, due to the ever-growing demand for the vegetable oil on the global market, where it started gradually replacing traditional vegetable oils at the expense of its edible and flavour features, declared the Head of the analytical department at Marcopolo Commodities SA, Olena Neroba during her report at the international conference Sunflower Oil & Meal Trade Conference on June 27.
At the same time, Ukraine is the absolute leader of the global production and exports of sunflower oil. To date, the country produces more than one third of the global volumes of the commodity, explained the expert.
Also, it should be noted that Ukraine provides more than 56% of the global exports of sunflower oil. Thus, there is a high probability that one will purchase a bottle of sunflower oil of Ukrainian origin in the supermarket, said O.Neroba.
India, the EU, China, Iran, Iraq, Malaysia and several other countries are the key buyers of Ukrainian sunflower oil. At the same time, to date the country exports almost 90% of the product in the crude form.
As for the new season-2018/19, the speaker forecasted the increase in sunflower oil production in Ukraine by 14.5%, to 6.6 mln tonnes, as opposed to 5.76 mln tonnes in the current season. Therefore, the exports will rise to 5.8 mln tonnes, against 5.3 mln tonnes.
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