China sharply boosted imports of Russian sunflower oil

30.08.2018

Over the first ten months of the marketing year, Russia kept exporting sunflower oil at a record pace, reports UkrAgroConsult. So, 1811 KMT of sunflower oil was supplied to foreign markets in September-June 2017/18, or 5% more than in the same period last year. In June Russia exported 180 KMT of sunflower oil. This is 6% less than in the previous month (192 KMT) and down 11% from June 2016/17 (202 KMT).

Egypt became the top importer of Russian sunflower oil in the first ten months of the current season. The country imported 24% more of the commodity than in the same period in MY 2016/17.

Turkey, retaining its second place, reduced purchases by 27%, to 360.1 KMT against 493.2 KMT in MY 2016/17. China boosted imports sharply: it already purchased 690% more sunflower oil at the time than in the whole of MY 2016/17, UkrAgroConsult’s analysts report. 

In addition, the period under review witnessed a substantial increase in Russian sunflower oil supplies to Iran. This country absorbed 196 KMT, or already 80% more than in the whole of MY 2016/17.

Detailed analysis of the latest trends in oilseeds/vegoils/meals exports, palm oil imports, 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 "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. More than 100 delegates from 20 countries have already registered for participation in the International Conference «Black Sea Oil Trade».

 

UkrAgroConsult

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