Ukrainian soybean oil exports hit a high in March

08.05.2017

Soybean oil exports from Ukraine reached 23.7 KMT in March 2017 against 11.6 KMT in February 2016 and 14.5 KMT in March 2016. They surpassed their previous monthly record set in March 2015 (22.1 KMT). Correspondingly, overall exports in the seven months of the current 2016/17 season hit a record 99.5 KMT that is up 9.3% year-on-year (91 KMT in September-March 2015/16), reports UkrAgroConsult.

This season, the range of export destinations of Ukrainian soybean oil was widened to 23 countries. At the same time, Poland remains the top importer, having boosted purchases to 34.6 KMT (35% of total exports) against 27.0 KMT a year ago. In the current season, stable demand from India brought this country to the top list of importers – its export share jumped to 28% (27.5 KMT against 0.1 KMT). China, on the contrary, slashed soybean oil imports from Ukraine to 13.3 KMT (13%) against 53.1 KMT a year ago. Bangladesh and Saudi Arabia not only started purchases of the Ukrainian product but even occupied significant export niches of 7% and 5%, respectively.

Further prospects of the Black Sea oilseeds/vegoils market will be discussed at the V International Conference “Black Sea Oil Trade”, which will take place on September 19, 2017 in Hilton hotel, Kiev, Ukraine.

 

UkrAgroConsult

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