China opening up new vistas for Ukrainian sunflower meal

31.05.2018

In the current 2017/18 season, the Ukrainian sunflower meal market features dynamism both in export shipments and prices, reports UkrAgroConsult.

Although this season’s sunseed crop is down 10% year-over-year and the processing share shrank, sunflower meal exports stay close to their al-time high.

The main reason for the steady fast pace of meal shipments is stable demand from traditional buyers, which include, first of all, the EU (some 60% of total exports) and Belarus with a 17% market share. Turkey and Morocco also hold leading positions confidently with 6% and 5%, respectively.

In addition, the sunmeal market is going the way of diversifying export destinations. For instance, this marketing year saw the first deliveries of the Ukrainian product to Cambodia, Ghana, Madagascar, Philippines and other countries.

However, the market was agitated by a momentous event in September 2017: Ukraine and China signed protocols of sanitary and phytosanitary requirements for the supply of sunmeal. After then, a number of Ukrainian exporters were granted permission to supply this commodity to China. This country, being a promising market with steadily growing demand, expectedly boosted purchases in the first five months of cooperation.

Further trade relations between Ukraine and China in the sunoil market will surely develop towards increasing the goods turnover.

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 in the countries of Black Sea Region is available to subscribers for weekly market report "Black Sea Vegoils" 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.

 

UkrAgroConsult

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