Ukraine greatly boosts sunflower oil exports

Large- and medium-sized Ukrainian enterprises exported 683,470 tonnes of sunflower oil in March 2017, which was 54.7% up from February 2017 and 59.2% up year-over-year (y-o-y), according to the association of vegetable oil and animal fat producing enterprises Ukroliyaprom.

Exports of Ukrainian sunflower oil in monetary terms were estimated at US$514.8 million, Ukroliyaprom`s press service said.

”In March 2017, exports of sunflower oil from Ukraine hit a record high of 683,470 tonnes worth $514.8 million in all years [of the country`s independence]. The growth was 154.7% compared to February 2017, and 159.2% y-o-y,” the report said.

In general, since the beginning of the current 2016-2017 marketing year, which started in September 2016, Ukrainian enterprises have boosted sunflower oil exports by 29%. The highest increase, by 35.8%, was recorded in Q1 2017 alone. Yet, Ukroliyaprom`s press service did not report the volume of exports in physical terms over this period.

The main consumers of Ukrainian sunflower oil are India, EU countries, China, and Turkey.

Earlier, Ukrainian enterprises in the 2016-2017 marketing year (September 2016 through August 2017) are expected to produce about 5.5 million tonnes of sunflower oil. Of the amount, about 5 million tonnes is to be exported, the Agrarian Policy and Food Ministry forecasts.

According to the Ukrainian State Statistics Service, the production of crude sunflower oil in Ukraine in 2016 grew by 20.2%, to 4.4 million tonnes.

Ukraine is the world`s largest exporter of sunflower oil.

Ukroliyaprom reported that Ukrainian enterprises in 2016 exported a record high amount of sunflower oil totaling 4.8 million tonnes, which was 23% up against 2015.

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