Ukraine edged out Russia on Chinese sunflower oil market

Source

APK-Inform

15984

According to APK-Inform, Ukraine significantly raised export of sunflower oil to China in the first half of 2020/21 MY (September-February). The shipments amounted to 783 thsd tonnes (+96% year-on-year).

Thus, the share of Ukrainian sunflower oil increased from 565 to 74% on the Chinese market. Therefore, the share of Russian oil declined notably from 36% to 23%.

Russia exported about 250 thsd tonnes of sunflower oil to China in September-February of 2020/21 MY, down by 4% year-on-year.

At the same time, analysts of APK-Inform says that the volume of Russian sunflower oil exported to China in the first half of 2020/21 MY significantly exceeded the results of full seasons prior to 2019/20 MY.

Export of Ukrainian sunflower oil reached its maximum for the first half of season, despite price conjuncture. It was driven by higher demand from importer amid expected decline of sunflower oil supply from the key exporters in 2020/21 MY.

According to Oil World, China imported about 1.1 mln tonnes of sunflower oil in September-February (+49% year-on-year). Ukraine and Russia were the main suppliers. The share of Kazakhstan remained low.

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