New
Transform your trade strategies with Market Brief, Tridge’s AI-powered market insights.

EU sunflower imports collapsed at the expense of crude oil

Published Jul 14, 2024

Tridge summary

The European Commission has released the final data for the 2023-2024 season's agricultural trade, highlighting significant changes in the import and export of key crops. The period saw a notable decrease in the availability of sunflower, rapeseed, and maize within the EU, alongside a substantial rise in unrefined sunflower oil imports. Sunflower oil imports surged by 65%, with Ukraine being the primary supplier, and sunflower imports dropped by 65% from various countries. Rapeseed imports experienced a 24% decrease, predominantly from Ukraine, while soybean imports remained stable. Soybean meal imports saw a 2% drop, but soybean oil imports slightly increased. Corn imports also fell by 27%, mainly from Ukraine, and wheat exports from the EU experienced a minor decrease.
Disclaimer: The above summary was generated by Tridge's proprietary AI model for informational purposes.

Original content

The European Commission has published the final figures for the import and export of agricultural products for the 2023-2024 season, which ended on 30 June, and they show a significant drop in Community supplies of sunflower, rapeseed and maize, but also a significant increase in unrefined sunflower oil. Sunflower imports fell by 65% to 767,000 tons, of which 423,000 tons came from Moldova, 226,000 tons from Ukraine, 52,000 tons from China, 29,000 tons from Turkey and 11 thousand tons from the USA. On the other hand, supplies of sunflower oil to the EU from third countries also jumped by 65% to 2.8 million tons, with Ukraine providing almost the entire amount - 2.7 million tons, Serbia - 80,500 tons and Moldova 43 thousand tons. Community rapeseed imports last season decreased by 24% to 5.6 million tons, with Ukraine again taking the lion's share of 3.1 million tons, Australia providing 1.8 million tons, Moldova - 248 thousand . tons, Serbia – 135 thousand tons, and Canada – 120 ...
Source: Sinor
By clicking “Accept Cookies,” I agree to provide cookies for statistical and personalized preference purposes. To learn more about our cookies, please read our Privacy Policy.