According to operational data, in September-January 2022/23 MY, the export of sunflower oil from Ukraine decreased by 14% year-on-year to 2.28 mln tonnes.
In particular, the blocking of the grain corridor operation by Russia and increasing the delivery time of products significantly limit the operation of plants and the supply of Ukrainian products to the global market, particularly to remote countries.
The largest reduction in exports among the traditional sales destinations was observed in India (-54%), China (-36%), and Iraq (-32%).
In addition to this, due to the disruption of the main distribution chains and the increase in the cost of delivery, the bid/offer prices for sunflower oil on the Ukrainian export market in January-February 2023 were at the minimum level since November 2020.
At the same time, in September-January of 2022/23 MY, the delivery of the oil to the EU increased to almost 1 million tons (+19%). Thus, the European Union holds the lead among importers of Ukrainian sunflower oil, with a share of nearly 44% in the total volume of oil exports from Ukraine (32% y-o-y).
Ukraine also holds the leading position among suppliers of sunflower oil to EU countries, with a share amounting to 85%.
More up-to-date information on the market of vegetable oils in the EU will be presented during the "VegOil Trade" conference.
You can fill out an application for participation in the conference on our website.
