In 2011/12 MY (September-August) Ukraine will produce 3.25 mln tonnes of sunflower oil, an increase of 5% compared to the previous MY, said Stepan Kapshuk, General Director of the Association "Ukroliyaprom", at the Anniversary 10th international conference "Fat-and-Oil Industry — 2011" in Kiev on November 25.
According to him, the share of Ukraine in the world production of sunflower oil will reach the level of 25%.
Sunflower oil export volumes are forecasted at the level of 2.7 mln tonnes (in 2010/11 MY - 2.65 mln tonnes), which forms 55% of the world exports, added S.Kapshuk.
The General Director of "Ukroliyaprom" also noted that in the current MY production of sunflower seed is forecasted at the level of 8.5 mln tonnes (in registered weight), up 18% compared to the previous MY (7.2 mln tonnes). Exports of sunflower seeds is expected to reach 500 thsd tonnes (in 2010/11 MY - 444.5 thsd tonnes).
However, S.Kapshuk stressed that such production volumes are possible only under condition of keeping of the export duties on sunflower seeds, and avoiding of imposition of the export duties on sunflower oil.
He also said that the global demand in sunflower oil will continue increasing as the price is much lower compared to soybean oil price, and is kept at the level of palm oil price. In particular, according to information of "Ukroliyaprom", India (27% of the general Ukrainian exports), the EU (21.8%), Turkey (11.6%), Egypt (8%) and Russia (5.7%) are the main importers of Ukrainian sunflower oil.
As a reminder, as of November 14, 2011, Ukraine completed the harvesting campaign of sunflower throughout 4.6 mln ha, the production totaled 8.8 mln tonnes.