EU intends to increase imports of sunflower and soybean oils in 2020/21 season

Published 2020년 11월 10일

Tridge summary

The European Commission has increased its forecast for sunflower oil imports for 2020/21 MY by 400 thousand tons, reaching 2 million tons, with Ukraine being the primary supplier. The EU has also increased its soybean purchase forecast by 700 thousand tons to 15.7 million tons, and expects to import more soybean oil by 53 thousand tons to 400 thousand tons. The increase in imports is due to a decrease in the EU's own oilseed harvest, especially in sunflower crops.

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

Original content

The European Commission has increased the forecast for imports of sunflower oil in 2020/21 MY by 400 thousand tons - up to 2 million tons (2.3 million tons last season). The key supplier of products to the EU countries is Ukraine with a 90% share of imports. Read on the topic: "Optimus Agro": how sunflower oil is produced at "Zaporizhzhya MEZ". The EU also raised the forecast for soybean purchases - by 700 thousand tons to 15.7 million tons (14.7 million tons in 2019/20 MY). It is also expected that countries will import more soybean oil - by 53 thousand tons to 400 thousand tons (455 thousand tons). The EU harvested fewer oilseeds in 2020 than planned. The estimate of the sunflower crop decreased the most - to 8.9 million tons (-950 thousand tons from the 2019/20 season). ...

Source: Elevatorist