For 8 months of 2023, the export of sunflower seeds from Ukraine decreased by 58% year-on-year, which made it possible to significantly increase its processing in the country. Accordingly, the production and export of high-added products increased, as the association "Ukroliyaprom" reported.
"One of the main features of 2022/23 MY was a significant increase in the processing of sunflower seeds at domestic facilities, starting from 2023, after the ban on its import by some EU countries. This made it possible to significantly increase the processing of sunflower seeds in Ukraine, and, accordingly, the production and export of sunflower oil – by 25.4% and sunflower meal – by 27.3% compared to 2021/22 MY", - the message states.
In 2022/23 MY, the production and export of soybean oil increased by 18%, export of soybean meal – by 19.4%.
"These indicators could have been higher, provided that soybean processing increased in the country, especially given that the export of its processing products is carried out mainly by road and rail transport," Ukroliyaprom emphasizes.
Speaking about the prospects of the industry in the new season, the Association notes that the features and challenges of 2022/23 MY will remain relevant for 2023/24 MY as well. In particular, this is the continuation of the work of enterprises under martial law, an unstable situation on the currency market, unclear prospects for the "grain corridor", and attacks on the port infrastructure.
"Constant shelling of Izmail and Reni makes it difficult for us to reorient to the Danube ports," Ukroliyaprom added.
You can find more information about the Ukrainian oilseed market, trends, and development prospects at the XXI international conference "Fat&Oil Industry-2023" to be held in Lviv, on October 23.
The event will be held with the support of Ukroliyaprom.