China increased its imports of sunflower oil to 880 thousand tons

for the season 2015/16 China increased its imports of sunflower oil to a record 880 thousand tons against 530 thousand tons in the season 2014/15.

the Main supplier of sunflower oil to China usually was Ukraine, however, its share in total imports fell from 90% to 73% as a result of increased purchases of oil from Argentina and Russia. So, in the season 2015/16, Ukraine supplied to China 639 thousand tons of sunflower oil, Russia – 127 thousand tons, Argentina – 94 thousand tons against 478 thousand tons, 24 thousand ton and 19 thousand tons in the season 2014/15, respectively.

in September 2016, China imported 77 thousand tons of sunflower oil. Thus, in the season 2016/17 MG already purchased 259 thousand tons against 117 thousand tons of the same period of the previous season.

Analysts Oil World forecast that the demand for sunflower oil in China will continue to grow, causing the volume of its imports into the country in the season 2016/17 MG can increase to 1 million tons, thus reducing the volume of purchases of soy and palm oil.

Recall that in 2015 Ukraine supplied sunflower oil in 117 countries worldwide.

Thanks to strong demand for sunflower oil purchase prices for sunflower seeds continued to grow. The processors involved in the fight for an increase in purchased volumes.

Rising prices for soy and canola in the us and the Ukrainian market also give an additional support to the prices for sunflower seeds in Ukraine. Now the price of sunflower is:

• 10300-10500 UAH/t with delivery to the factory
• 10100-10400 UAH/t on the Franco-elevators.