According to APK-Inform, China was virtually the only one of the main buyers of Ukrainian sunflower oil, who increased imports in 2020/21 MY, despite the overall reduction of export of Ukrainian oil.
China imported record 1.08 mln tonnes of Ukrainian sunflower oil in 2020/21 MY, up by 10% compared to the preceding season. The share of China amounted to 20% in the general structure of Ukrainian oil export (15% in 2019/20 MY).
Besides, the share of Ukrainian oil increased significantly in the overall structure of sunflower oil export to China. According to USDA, China imported about 1.7 mln tonnes of the product in 2020/21 MY (-3%), the share of Ukrainian oil totaled 64%.
At the same time, China cut sizable import of sunflower oil from Russia in 2020/21 MY. It decreased to 440 thsd tonnes (-41%). Therefore, the share of Russian products declined significantly from 43% in 2019/20 MY to 26% in 2020/21 MY.
The share of Ukrainian sunflower oil remained at 45% in the general consumption structure of China, while the share of Russia decreased to 19%.
USDA forecasts China to import 2.15 mln tonnes of sunflower oil in 2021/22 MY. The consumption may rise to 2.78 mln tonnes that can promote further growth of import of Ukrainian product.