The lack of Ukrainian sunflowers can be a blessing for olive oil in Spain

Published 2022년 3월 23일

Tridge summary

Due to the disruption in the sunflower oil supply chain caused by Russia's invasion of Ukraine, prices have surged by 64 percent in a week, leading Spain to seek alternatives. Olive oil producers, like Spain's National Association of Bottlers for Edible Oil, see this as an opportunity to fill the gap, given that Spain produces more olive oil than it consumes. However, there are concerns about the interchangeability of sunflower and olive oil in various industries, such as confectionery and canning. Some industries are looking into other vegetable oils as alternatives, although a stable supply has not been established yet.

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

Original content

The price of sunflower oil has soared due to Russia’s invasion of Ukraine, thus disrupting the supply chain, providing an opportunity for one of Spain’s best-known products, olive oil producers. Even after Spanish supermarkets restricted their purchases of sunflower oil to a few bottles per person, the shelves were emptied, prompting retailers to fill their shelves with an alternative grown in their own country. “I want to say we have an ace in our bag,” said Primitivo Fernandez, president of the National Association of Bottlers for Edible Oil. "Supply is guaranteed in Spain because we have enough olive oil." Sunflower oil from Ukraine accounts for about 40% of total Spanish imports, or 400,000 tonnes, in addition to the 300,000 tonnes produced in the country. The price of sunflower oil has risen 64 percent in the past week, according to the latest official data. According to market researcher NielsenIQ, as the stock was replenished, sales of total cooking oil were up 289% from ...

Source: AgroForum