Spain: Tranquility in the oil market, there will be no shortage of sunflower

Published 2022년 5월 15일

Tridge summary

Despite the disruption caused by the Ukraine war, leading to concerns about sunflower oil shortages, the Spanish market is currently calm with no risk of running out of the oil. This is evident from the 9.09% increase in bottled sunflower oil in March, the month the war broke out. The market also saw an increase in the bottling of olive oil and other fats. The price of sunflower oil and other oils have, however, seen a significant increase, though prices have started to drop as the market stabilizes and consumers become less panicked.

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

Original content

The sunflower oil market has suffered "some occasional distortion" as a result of the war in Ukraine, but the current situation is one of "absolute calm" and there is no risk of shortages, different actors in the olive sector assure Efeagro. The outbreak of the war stopped activity in the Ukrainian refineries, from where Spain receives some 500,000 tons of sunflower oil (62% of the total) and the alarm soon spread: the bottles disappeared from supermarkets and voices from the industry said that shortage was “imminent” However, the figures of the Spanish oil producers grouped in the Anierac association indicate that, far from running out of stock, last March they bottled 25.34 million litres, which is 9.09% more than in February, which that was when the war started. «Absolute tranquility for the market. There has been some punctual distortion but it is perfectly supplied, ”the general director of the National Association of Industrial Packers and Refiners of Edible Oils (Anierac), ...

Source: Agroclm