Turkey became leading importers of Russian sunflower oil in 2020/21 MY

Source

APK-Inform

1718

According to APK-Inform, Russia cut sunflower oil export by 18% to 3.26 mln tonnes in 2020/21 MY. It became the second largest volume on record.

APK-Inform says that the decline of sunflower oil export was caused by the lower sunflower seed crop in 2020 and reduction of its processing as well as the weaker demand from the key importers amid a price surge.

Turkey turned to be the largest importer of Russian sunflower oil for the first time since 2017/18 MY. Its share in the overall exported volume amounted to 23%. Russia supplied 757 thsd tonnes (+12%) of sunflower oil to Turkey that was the multiyear maximal.

Turkey increased the import of Russian sunflower oil due to the rise of the export duty on Russian sunflower seed in January 2021. Turkey had used to be a large buyer of the Russian oilseed up to November 2020.

Iran moved up from fourth to the second position among the leading importers of Russian sunflower oil. Its share totaled 22%. Russia supplied 723 thsd tonnes of the product to Iran in 2020/21 MY (+70%).

China was the third largest importer with the share of 13%. It bought 438 thsd tonnes of Russian sunflower oil (-42%). China cut significantly the import of Russian sunflower oil due to higher purchases of Ukrainian products.

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