Huge Demand for Pomace Oil as a Substitute of Sunflower Oil

The pomace oil market situation in Ukraine is not good because Ukraine is the leading producer of sunflower oil about 60%. Thus, the market value of sunflower oil has reached an unprecedented peak. It has been multiplied by during week 9-10 from USD 1.74/kg to USD 3.38-3.49/kg.

Since pomace olive oil is considered a common alternative to sunflower oil, its price has soared, reaching at the price levels more typical for virgin olive oil. Due to the shortage in sunflower oil and good acceptance of pomace olive oil as a substitute, Pomace olive oil prices are expected to increase dramatically while the demand remains very high.