China became a major buyer of Ukrainian bottled sunflower oil

03.07.2018

UkrAgroConsult analyzed trends in the domestic and export markets of bottled sunoil.

Noteworthy, the current 2017/18 season witnesses a sunseed crop decrease (down 9.9% in MY 2017/18 against MY 2016/17) that cannot but affect sunseed crushing.

So, output of bottled sunflower oil in the current 2017/18 season (September-April) was down 15% year-over-year. At the same time, the shelves of our stores are still full of this product of various brands, i.e. the Ukrainian consumer is not deprived of it.

The export trade in bottled sunflower oil experiences a slump in the current 2017/18 season, primarily due to stagnation of the entire segment.

According to UkrAgroConsult estimates, in the 2017/18 season bottled sunoil exports will be down 24% year-over-year, though remaining at a near record level.

Apart from the above, the export trade in bottled sunflower oil in the current 2017/18 season was greatly influenced by changes in the range of export destinations.

While the top destination for bottled sunflower oil last season was Egypt, which absorbed some 33% of all exports, now this country is almost fully switched to sunflower oil of Russian origin. At the same time, China, on the contrary, almost doubled imports of Ukrainian bottled sunflower oil in the past nine months.

Full version of the article is available to subscribers for “Black Sea Vegoils” by UkrAgroConsult.

More detailed information on the latest trends in oilseeds/vegoils/meals exports, supply and demand balances with breakdown by crop as well as crop conditions and progress in planting/harvesting in the countries of Black Sea Region is available to subscribers for weekly market report "Online market review" by UkrAgroConsult.

Further prospects of the Black Sea oilseeds/vegoils market will be discussed at the VI International Conference “Black Sea Oil Trade”, which will take place on September 20, 2018 in Hilton hotel, Kiev, Ukraine. In 2017 International Conference «Black Sea Oil Trade» attracted 250 delegates from 25 countries and 150 companies.

 

UkrAgroConsult

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