News

Bulgaria's sunflower oil exports hit a new record in crop year 2021/22

RBD Palm Oil
Refined Sunflower Oil
Bulgaria
Published Feb 20, 2023

Tridge summary

Of the total sunflower oil exports, the market share of the European Union (EU) is 65%, South Africa is 16%. India and Iraq are the main importers. China is also among the top importers. Bulgaria's sunflower seed harvest for the 2021/22 season reached 2 million tons, due to the expansion of the cultivated area. The record sunflower harvest in 2022 led to an increase in exports of sunflower oil and sunflower seeds from Bulgaria. According to Mintec Global, Indonesia's palm oil exports may decline due to the dual effect of increasing the country's domestic market obligation (DMO) and also a 5% increase in the duty to blend palm oil biodiesel from February 1st. The government changed the DMO from 1:8 to 1:6. DMO requires exporters to sell part of their products to the domestic market before exporting. In addition, Indonesia announced it will switch to B35 - a 35% palm biodiesel blend in diesel fuel - from the B30 ratio in 2020.

Original content

Of the total sunflower oil exports, the market share of the European Union (EU) is 65%, South Africa is 16%. India and Iraq are the main importers. China is also among the top importers. Bulgaria's sunflower seed harvest for the 2021/22 season reached 2 million tons, due to the expansion of the cultivated area. The record sunflower harvest in 2022 led to an increase in exports of sunflower oil and sunflower seeds from Bulgaria. According to Mintec Global, Indonesia's palm oil exports may decline due to the dual effect of increasing the country's domestic market obligation (DMO) and also a 5% increase in the duty to blend palm oil biodiesel from February 1st. The government changed the DMO from 1:8 to 1:6. DMO requires exporters to sell part of their products to the domestic market ...
Source: Vinanet

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