According to preliminary data of APK-Inform Agency, in March 2022/23 MY, the volume of Ukrainian sunflower oil declared for export reached the maximum in the last 14 months, amounting to 524 thsd tonnes (+28% month-on-month).
The growth was observed in the shipments of the product to the EU (+47% m-o-m), China (+25%), and there was a resumption of shipment to Iraq after a three-month break.
In total, in September-March 2022/23 MY Ukraine exported 3.2 mln tonnes of sunflower oil, which is nearly equal to last season’s volume.
In April 2023, Ukraine is expected to export no less than in March, but already in May, the shipment volumes may decrease due to sufficient stocks in the main importing countries, mainly the EU.
Hence, in April Poland has already decreased the purchases of Ukrainian sunflower oil, which was caused by local protests and particularly by the demands to ban the import of Ukrainian product.
According to the updated assessment of APK-Inform, at least 1.2-1.3 mln tonnes of sunflower oil can still be shipped from Ukraine by the end of the current season (April-August).
It should be noted that further export will depend not only on the importers’ demand, the operation of ports, and shipments through western crossings but also on the availability of sunflowerseeds stocks on the domestic market, which is estimated by the APK-Inform to be the lowest for many years.
You can find more up-to-date information about the vegoils market of the EU at the international specialized conference “VegOil Trade”, on June 8-9 in Rotterdam.
The detailed agenda of the conference is available on the APK-Inform website.
Join us! Register here.