Ukraine reduces sunflower oil exports by 15% due to reduced purchases by China and India

During September-November, Ukraine reduced its exports of sunflower oil by 15% compared to the same period last year to 1.35 million tons due to falling demand from China and India, the Ukroliyaprom association said. In particular, India, which is the main buyer of Ukrainian sunflower oil, reduced its imports during this period by 11.5% to 466.5 thousand tons, although in 2020/21 MY purchased 1.56 million tons of Ukrainian oil, which accounted for 30% of total its exports. China, Ukraine's second-largest buyer of sunflower oil, cut its purchases by 50% to 247.1 thousand tons during the period, including 177.8 thousand tons shipped in November. The main reasons for the decline in demand for sunflower oil were high prices and a shortage of supply at the beginning of the season, which is why buyers preferred cheaper soybean oil. In China, at the beginning of the season, significant transitional stocks of sunflower oil were formed, so he was in no hurry to buy it. In addition, ...