EU increased purchases of sunflower oil by 21% this season

Refined Sunflower Oil
Market & Price Trends
Published Feb 23, 2024

Tridge summary

From July 2023 to mid-February 2024, the European Union's vegetable oil imports fell by 6% to 4.15 million tonnes, compared to the same period in the previous season. This was due to a significant drop in palm and rapeseed oil imports by 20% and 10% respectively, with the majority of palm oil sourced from Indonesia. However, there was an increase in soybean and sunflower oil imports by 14% and 21% respectively, primarily from Ukraine. The EU also saw a 22% decrease in oilseed imports and a 10% reduction in meal supply.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.

Original content

The countries of the European Union imported about 4.15 mln tonnes of vegetable oils from July 2023 to mid-February 2024, which is 6% lower than the level in the same period last season (4.4 mln tonnes). Such data were released by the European Commission analysts. They note that the reduction in supplies is due to a significant decline in imports of palm and rapeseed oil – by 20% and 10%, to 2.06 million tons and 271.8 thousand tons, respectively. At the same time, the experts recorded the increase in imports of soybean and sunflower oil to the EU – by 14% and 21%, to 372.85 thsd tonnes and 1.45 mln tonnes respectively. According to the European Commission, the main volumes of palm oil came to Europe from Indonesia (629.8 thsd tonnes). Soybean, rapeseed, and sunflower oil were most actively imported from Ukraine – 136.4 thousand tons, 106.9 thousand tons, and 1.34 million ...
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