Sunflower Oil: Keep on Trading Online-2020
Jun 11, 2020

COVID-19 pandemic fueled the demand on sunflower oil in Ukraine – Kernel




The COVID-19 pandemic and the quarantine it caused led to the surge in demand for sunflower oil in Ukraine to the record level, declared the head of oils and meals trading of Kernel, Andrey Paladiy within the online conference SUNFLOWER OIL: KEEP ON TRADING ONLINE-2020, on June 11.

“It should be noted that the COVID-19 pandemic significantly influenced on consumers habits. The amount of people eating in restaurants declined by 53%, while the home cooking increased by 22%. It was the main driver of higher retail sales – up 79% during the first two weeks of the quarantine in Ukraine”, - the expert added.

Nevertheless, the pandemic did not affect the seasonal rates of production and export of sunflower oil in Ukraine, which were stable in March-May.

“At the same time, the coronavirus pandemic complicated significantly the global document flow. Working of courier companies was disturbed severely, handling time of bank payments increased by 30-50%, and performance of contract by receivers faced some problems in certain countries. Thus, optimization of handling of shipping documents turns to be an big challenge in 2020/21 MY”, – the speaker pointed out.

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Irina Ozip (ext. 115)

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