Ukraine and Russia considerably increased palm oil imports

12.06.2018

UKRAINE. Palm oil imports in the current 2017/18 season (September-April) remained at a five-year high of roughly 157 KMT that is up almost 23% from the same period last season, reports UkrAgroConsult.

Ukraine imported a total 14 KMT of palm oil in April 2018 that is down 50.4% from the previous month but 6.9% more than in April 2017.

In the first eight months of MY 2017/18, re-exports from Ukraine decreased more than 66% to 2.9 KMT against 8.6 KMT a year ago.

The geography of palm oil imports to Ukraine still shows changes typical of the start of the current season. So, Indonesia keeps stepping up shipments and already accounts for 79% of total imports to the country. Malaysia, on the contrary, reduced its commodity flow (10%). In addition, there emerged a new player – Honduras – with an 8% import share.

RUSSIA. Palm oil purchases in the first seven months of MY 2017/18 (September-March) were up 8.7% at 631.8 KMT against 581.4 KMT a year ago. This marketing year, palm oil imports are on the rise again after some decline a year ago. They remain close to a record 654 KMT imported in the same period in MY 2015/16. 

Russia imported 96.8 KMT of palm oil in March 2018. Over the last two months, purchases of this product have been at a high level for Russia. So, palm oil imports increased 34.6% in the reporting month compared to March 2017.

The current season features higher sales and a growing role of Indonesia in the Russian palm oil market. So, the share of imports from this country went up to 86% against 77% a year ago. Less significant players – Malaysia and the Netherlands – on the contrary, reduced their palm oil deliveries and import shares to 7% and 4.4%, respectively.

More detailed information on 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 in the countries of Black Sea Region is available to subscribers for weekly market report "Black Sea Vegoils" by UkrAgroConsult.

 

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