Bulgaria's sunflower oil exports hit a new record in crop year 2021/22

Published 2023년 2월 20일

Tridge summary

The European Union and South Africa hold the dominant market shares in the sunflower oil exports, with the EU accounting for 65% and South Africa for 16%. India and Iraq are the primary importers, with China also being a significant player. Bulgaria has seen a surge in its sunflower seed harvest for the 2021/22 season, reaching 2 million tons, due to an expansion in cultivated area. This has resulted in a boost in exports of sunflower oil and sunflower seeds from the country. Conversely, Indonesia's palm oil exports are expected to decline due to an increase in the duty for blending palm oil biodiesel and changes to the domestic market obligation.

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Original content

Of the total sunflower oil exports, the market share of the European Union (EU) is 65%, South Africa is 16%. India and Iraq are the main importers. China is also among the top importers. Bulgaria's sunflower seed harvest for the 2021/22 season reached 2 million tons, due to the expansion of the cultivated area. The record sunflower harvest in 2022 led to an increase in exports of sunflower oil and sunflower seeds from Bulgaria. According to Mintec Global, Indonesia's palm oil exports may decline due to the dual effect of increasing the country's domestic market obligation (DMO) and also a 5% increase in the duty to blend palm oil biodiesel from February 1st. The government changed the DMO from 1:8 to 1:6. DMO requires exporters to sell part of their products to the domestic market ...

Source: Vinanet