Prices for vegetable oils in Europe fell significantly under pressure from active supplies of oilseeds from Australia and Ukraine

According to Argus Media experts, significant supplies of canola from Australia and sunflower from Ukraine contribute to a significant reduction in prices in the EU vegetable oil market, reports Grain Central. Thus, according to the Australian Bureau of Statistics, Australia for 6 months of the current season (as of March 31) exported record volumes of canola - 3.4 million tons, most of which was shipped to the EU countries. Ukraine, in turn, significantly increased shipments of sunflower seeds to the EU, while by the beginning of the conflict, sunflower oil was mainly exported. Thus, against the backdrop of high imports of oilseeds (canola, sunflower and soybeans) to the EU, the volumes of oilseed processing have increased significantly and the European market is experiencing a glut of vegetable oils. According to Argus Media, sunflower and rapeseed oil prices in the EU fell ...