The United States Department of Agriculture (USDA) projects Ukraine will retain its leading position in global trade in sunflowerseed oil in the 2016-2017 marketing year (September 2016 through August 2017), accounting for 56%.
During the current 2015-2016 marketing year, Ukraine`s share in global sunflowerseed oil trade is estimated at 54%, the USDA said.
In real terms, exports of vegetable oil from Ukraine in the current marketing year are estimated at 4.1 million tonnes, and they are expected to grow by 10% to 4.5 million tonnes in the 2016-2017 marketing year.
The USDA forecasts Ukraine will produce 4.7 million tonnes of sunflowerseed oil in the current marketing year, and the production will increase to almost 5 million tonnes in the next marketing year.
In the 2014-2015 marketing year, Ukraine`s exported 3.9 million tonnes of sunflowerseed oil, and Ukraine`s share in global sunflowerseed oil trade was 55%.
Ukraine`s State Fiscal Service said that in the 2015 calendar year, Ukraine saw a decline in proceeds from sunflowerseed oil exports by 15% to $3.03 billion, with export volumes of this product shrinking by 9% to 3.9 million tonnes. Major importers of Ukrainian sunflowerseed oil were India, according for 34.6% of total exports from Ukraine, and China with 14.5%.
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