The EU sharply increased its imports of sunflower oil

According to the European Commission, in this season, the EU and the UK increased compared to the previous MG imports of vegetable oils by 5%, to 4,811 million tonnes, in particular sunflower seed – 38% to 1,172 million tons, soybean by 19% to of 0.289 million tonnes, the import of palm oil decreased by 18% up to 3,175 million tons, rapeseed – 6% to 0,176 million tons.

Ukraine is the main supplier of vegetable oils in the EU and provides 86% of the total imports of sunflower-seed and 31% of soy oil in the EU. The share of Russia in imports of rapeseed oil in the EU is 41%, soy 12%, sunflower oil – by 1%. The main suppliers of palm oil in the EU are Indonesia (41%) and Malaysia (25%).

the price of rapeseed oil in the Netherlands falls under pressure from low demand. March futures fell to a 800-805 €/t FOB DM compared 785-790 €/t DM FOB for shipments in may-July.

Prices for delivery in March, Argentine soybean oil because of lower demand fell to 729,75 $/t FOB Up River.

Ukrainian sunflower oil went up to 730-750 $/t FOB after adjusting prices for soybean and palm oil, but the price is demand from India and the EU are gradually declining.