According to APK-Inform estimation, Ukraine exported 160 thsd tonnes of high-oleic sunflower oil in September-December of 2020/21 MY, down 10% compared to the same period of the preceding year.
Traditionally, Europe shows the main demand for Ukrainian high-oleic sunflower oil due to the absence of import duty. Ukraine shipped more than 70 thsd tonnes (46%) of the product to Europe over the reporting period.
However, the share of Europe has been declining in the recent years. Higher export to China and USA will cut the European share in 2020/21 MY. Moreover, the demand from the key buyer of the last year - Spain - is declining. Spain imported only 9.4 thsd tonnes of high-oleic sunflower oil in September-December compared to 42 thsd tonnes in the same period of 2019/20 MY. Lower demand is based on growth of inner production in Spain and more competitive prices of local product. At the same time, the demand from China is still high. Shipments to China more than doubled to 37 thsd tonnes so far in 2020/21 MY.
Ukraine will export about 350 thsd tonnes of high-oleic sunflower oil in 2020/21 MY, down from record 453 thsd tonnes in 2019/20 MY (-23%).
Detailed information about Ukrainian market of high-oleic sunflower oil you can find in the article “Leap year against high-oleic market” to be published at our website in the section Exclusive/Topic on January 16.
