The export of sunflower oil from Ukraine may decrease in the new season




According to the updated assessment of APK-Inform Agency, the production, and export of Ukrainian sunflower oil in 2023/24 MY may decrease to 5.5 mln tons (-8% y-o-y) and 5.1 mln tons (-10% y-o-y), respectively. But there is a potential to maintain these indicators at the level of the previous season. This was reported by Svitlana Kyrychok, oilseed market analyst of the APK-Inform Agency, at the ХХІ International Conference “Fat&Oil Industry-2023” on October 23 in Lviv.

“Taking into account the rather good prospects of the sunflower seed crop in 2023, as well as the difficulty of estimating the production of this oilseed in the frontline regions, at the end we can get a crop slightly larger than the current forecasts, as it was last year. But it is worth noting that to a greater extent, the indicators of oilseed production and export will still depend on the operation of alternative export routes, and especially on the functioning of ports,” the expert noted.

She also clarified that the export of sunflower oil by sea in the 2022/23 MY accounted for the lion's share of the total volume of shipments to foreign markets (about 76%). And this brings a high risk of missile attacks and loss of products.

In addition, the rate of export of sunflower seed is gradually gaining momentum. APK-Inform analysts believe that from December, there is a high probability of an increase in the volume of oilseed shipments to EU countries. This may limit the potential for sunflower seed processing, added the speaker at Fat&Oil Industry-2023.