20 2016

 

According to the results of 2015/16 marketing year Ukraine exported record high volume of sunflower oil.

During 2015/16 marketing year (September - August) Ukraine exported 4479 thousand tons of sunflower oil compared to 3870 thousand tons exported in 2014/15 and reached a record export level.

 

European countries (about 32% of total export) slightly surpassing India (31.6%) are among the top importers of sunflower oil from Ukraine. Significant volume of sunflower oil is exported to China (about 14%) and Turkey (about 4%). Record volume of export in 2015/16 marketing year became possible due to the increase of the capacity of existing markets and their diversification with Middle East and African countries.

 

 

In new 2016/17 season exporters of Ukrainian sunflower oil shall take into consideration that in September this year the Turkish government has decided to increase import duties on raw sunflower oil from 12% to 36%, on processed sunflower oil – from 50% to 67.5% per ton. Such measures are to protect local producers and oilseeds processors.

 

Considering the fact that Turkey cannot meet domestic demand for raw materials solely it became clear that such measure is temporal and as soon as the Turkish market feels the need of import sunflower oil the duties will be reduced.

 

Taking into account this fact and forecasts for 2016/17 marketing year on production of sunflower and sunflower oil worldwide, in the Black Sea Region and in particular in Ukraine the issue of market’s diversification will be even more acute.

 

UkrAgroConsult specially for SchedroTD