Export of sunflower oil from Ukraine in August may be the lowest in the last 2 years
28/08/2024 (APK-Inform) - According to APK-Inform Agency, in 25 days of August, Ukraine exported about 200 thsd tonnes of sunflower oil, down 45% compared to the same period in July.
Moreover, according to the preliminary estimation of the agency's analysts, the export volume of the product for the whole August may become the lowest monthly figure in more than 2 years. This is due to the reduction of sunflower processing in the country due to the shortage of raw material supply.
In total, from September to August 25, 2023/24 MY, Ukraine exported just over 6.23 mln tonnes of the product, which was one of the highest volumes for the said period.
The main destination of Ukrainian sunflower oil exports in the current season was the European Union, where the record volume of almost 3.7 mln tonnes was shipped.
According to APK-Inform forecasts, in September of this year Ukraine is unlikely to see the significant growth of sunflower oil exports. This is due to the low supply of sunflower seeds on the domestic market, both old and new harvest, which significantly complicates the formation of the raw material base. Thus, despite the earlier start of the oilseed harvest, which started in early August, the supply of sunflower remained very limited. As a result, most crushers extended the time for maintenance and repair works, planning to start operations not earlier than September.