Ukrainian sunoil attracts increasingly numerous buyers

17.11.2016

Following low sunseed crushing volumes in August, Ukrainian crushers started the new season with record high processing of sunseed and production of sunoil.

According to UkrAgroConsult’s calculations, large and medium-sized crushers processed over 1 MMT of sunseed in the first month of 2016/17 alone. It should be noted that that high processing volumes are abnormal for the season’s first month: refineries usually reach this level in October-November. However, the production rise is no surprise in view of the bumper sunseed crop of 14 MMT, according to UkrAgroConsult estimate.sunseed crop ukraine

Apart from the unprecedented crop, the sunseed crushing pace was quickened both by the launch of new facilities and by large-scale farmer sales. As we mentioned in the previous article, because of a new taxation regime to be introduced from January 1, 2017, many growers have decided to sell much of their commodity prior to these novelties. Therefore major companies have managed to accumulate excellent stocks of this primary product.

Full version of the article is available to subscribers for weekly ag market report “Black Sea Vegoils & CIS” and “Online market review” by UkrAgroConsult.

 

UkrAgroConsult

 

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