Tridge summary
Turkey, the main buyer of sunflower oil in the Black Sea region, has seen a shift in its supply chain. Traditionally reliant on Russia for its annual requirement of 1.4 million tons, Turkey began importing sunflowers from Ukraine in 2022, leading to increased domestic oil production and reduced import volume. However, due to an anticipated decrease in Turkey's sunflower harvest in 2024, caused by an earthquake and adverse weather conditions, Russian experts predict a resurgence in Russia's sunflower oil exports to Turkey.
Disclaimer:The above summary was generated by Tridge's proprietary AI model for informational purposes.
Original content
According to the statement by Mikhail Maltsev, Executive Director of the Russian Oil and Oil Association, he stated that Turkey is the main buyer of sunflower oil in the Black Sea region. He emphasized that Turkey needs approximately 1.4 million tons of sunflower oil annually just to meet its domestic needs. DECREASED TOWARDS UKRAINE Turkey has been the main buyer of Russian sunflower oil for several years, but after the opening of the “grain agreement” in 2022, Ukraine began exporting sunflowers to Turkey. This caused an increase in oil production in the country and a decrease in import volume. Also in 2023, Türkiye exported a large amount of sunflower oil from Ukraine. EXPERTS SAY THAT TURKEY'S PURCHASES OF SUNFLOWER OIL FROM RUSSIA WILL INCREASE AGAIN According to Russian experts, the situation will change again in 2024 and will allow ...
Source: Bursahakimiyet
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