A significant shortage of sunflower oil is forming on the world market

Published 2022년 3월 9일

Tridge summary

The global market is experiencing a sunflower oil shortage due to the conflict between Russia and Ukraine, leading to a suspension in sunflower processing in Ukraine and exports of oil. This shortage is expected to impact the EU, North Africa, the Middle East, India, and China, as Ukraine is a major supplier of sunflower oil to the EU, accounting for 86% of the total supply in October-December 2021. The lack of alternative oils to replace sunflower oil is further exacerbating the situation. Argentine sunflower oil is also experiencing a price increase and is in high demand, despite its limited supply.

Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

A significant shortage of sunflower oil is forming on the world market due to the conflict between Russia and Ukraine, which led to the suspension of sunflower processing in Ukraine and the export of oil. This affects the volume of sunflower oil supply in the EU, as well as in North Africa, the Middle East, India, China and other countries, experts at Oil World (Germany) report. At the same time, the replacement of sunflower oil with rapeseed, soybean, palm and corn oil will be limited, since the volume of their offers is also limited. In particular, with regard to the European market, the volume of supplies of sunflower oil from Ukraine to the EU countries in October-December 2021 amounted to 1.52 million tons, which is less than in the same period in 2020 (2.16 million tons), but , however, accounted for 86% of the total product supply in the EU. It is also noted that the volume of supplies of sunflower oil from Argentina to the EU in the specified period amounted to only 10 ...

Source: Oilworld