Ukraine exported record volume of sunflower oil
the Export of sunflower oil from Ukraine in 2016/17 MG increased in comparison with the previous season by 30% and reached a record high of 5.84 million tons.
The largest buyers of Ukrainian sunflower oil in the season 2016/17 were India (35% of total oil exports), China (10%) and Spain (9%), which collectively purchased more than half of exports from Ukraine of oil.
According to the latest forecasts of experts, due to the reduction of sunflower production in 2017/18 season sunflower oil exports will not exceed 5.6 million tons.
According to a September report by the USDA, sunflower production will decrease by 0.5 million tonnes to 14 million tonnes.
The main competitor of Ukraine in the market of sunflower oil is Russia, which during September-July 2016/17 MG increased compared to the same period of the previous season exports of sunflower oil by 41% to a record of 2.05 million tons.
The main buyers of Russian oil were Turkey (25% of total exports), Egypt (15%), Iran (9%), China and Uzbekistan (5%).
The purchase price of unrefined sunflower oil in Ukraine remain at 770-780 $/t FOB at the port, due to high prices of soybean and palm oil on the background of shortage of supply of sunflower oil, which within two weeks will be closed with the arrival on the markets of oil from the seeds of the new crop.
Sunflower prices are rising because of the devaluation of the hryvnia and the increased purchasing on the part of traders and processors who are trying to buy first batch of raw materials at a low price.