EU remains main destination for Ukrainian sunflower oil

Source

APK-Inform

5232

According to the current data, export of Ukrainian sunflower oil increased sizably in May and totaled 186 thsd tonnes (+23% to April). May export turned to be the highest monthly volume since the start of the war. It proves the adaptation of market participants to the current reality and gradual development of supply chains via the functioning land border checkpoints and ports.

In May, a number of countries who import Ukrainian sunflower oil increased. In the reporting month, Ukrainian sunflower oil was supplied to more than 60 countries that had been impossible at the initial stage of the war.

At the same time, the current export of sunflower oil outside the Europe is still low compared to pre-war volumes. The EU countries remain the main importers of Ukrainian sunflower oil (75% in May). The share of Ukrainian oil totaled 82% in the overall import by the EU in May (75% in April).

Poland was the largest importer of Ukrainian sunflower oil in May (20% in the total export structure).

Shipments of Ukrainian sunflower oil to remote countries (25% in the totaled export structure in May) are complicated by logistics, extended delivery time and higher delivery costs. After the EU, Turkey was one of the largest importers of Ukrainian sunflower oil in May (12 thsd tonnes).

Taking into account the current data, in June, for the first time since the start of the war, APK-Inform increased slightly its forecast of sunflower oil export from Ukraine in 2021/22 MY – to 4.1 mln tonnes (+4% to the previous forecast, -23% compared to 2020/21 MY).

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