According to Customs Statistics, Ukraine exported 2.04 mln tonnes of sunflower oil in September-December of 2021/22 MY, down 6% y/y.
Lower export was based on the slowdown of sunflower seed crushing in the first half of the season amid late harvesting campaign and reserved farmers’ sales. APK-Inform estimates sunflower seed processing at 4.1 mln tonnes in September-November, down 8% y/y.
At the same time, the supply of sunflower seed is record high this year in Ukraine. We estimate it at more than 16.5 mln tonnes, up 20% y/y. Thus, higher crushing is required for efficient distribution of these record volumes. In turn, the processing volumes depend on export trends.
APK-Inform forecast sunflower oil export from Ukraine in 2021/22 MY at 6.6 mln tonnes, up 25% y/y.