According to Oil World, import of sunflower meal to the EU exceeded expectations at an estimated 600-650 thsd tonnes in April-June 2022.
Following the Russian invasion of Ukraine, the experts initially had expected a severe decline in arrivals from the two countries. However, latest trade data suggests sunflower meal imports from Russia in the vicinity of 250-270 thsd tonnes in April-June, roughly 20% below volume registered in January-March but more than 10% above the year-ago level. Soaring European prices, a shortage of rapeseed meal and the fact that agricultural commodities are not part of the EU sanctions apparently promoted ongoing large imports from Russia of late.
This contrast with the severe decline in EU sunflower meal imports from Ukraine, curbed by sharply lower Ukrainian crushing and logistical constrains. Oil World pegged sunflower meal import at only around 100 thsd tonnes in April-June, less than 30% of the year-ago level.
Imports from Argentina were boosted to a multi-year high of 230-250 thsd tonnes in April-June, up 50% from a year earlier.
It remains to be seen whether the current trend of large imports from Russia continues in the second half of the year. Market participants will also closely monitor Ukrainian sunflower seed crushing in coming months.
YOU CAN GET MORE DETAILED INFORMATION ABOUT GLOBAL TRADE WITH SUNFLOWER SEED AND BY-PRODUCTS UNDER CONDITION OF WAR IN UKRAINE AND THE CONSEQUENCES OF THE WAR FOR THE WORLD MARKET WITHIN ONLINE CONFERENCE NEW REALITY ON GLOBAL MARKET OF SUNFLOWER SEED AND OIL AS SOON AS ON JULY 7.