Indonesia: Sunflower oil demand will rise if Russia-Ukrainian war ends

Refined Sunflower Oil

Indonesia

Published Nov 6, 2022

Tridge summary

There will be a rush of sunflower seed oil when the current war between Russia and Ukraine ends.

Original content

Reporter: Ratih Waseso | Editor: Khomarul Hidayat KONTAN.CO.ID - NUSA DUA. The demand for sunflower seed oil is predicted to increase. Dorab Mistry, a palm oil observer and director at Godrej International, said that there would be a rush of sunflower seed oil if the current war between Russia and Ukraine was over. After the war, the demand for large quantities of sunflower seed oil will increase. Likewise, rapeseed and canola oil production in 2022, experienced a major recovery. Canola oil will cater to the American domestic market. Meanwhile, mustard seed production in India will set a new record in 2022-2023. On the other hand, Brazil is expected to harvest more than 150 million tons of soybean oil. This can be a threat to Indonesian palm oil. "Palm oil is very competitive today but not so competitive in 2023 if we have a large soybean crop in South America," said Dorab at the 2022 Indonesian Palm Oil Conference (IPOC) in Nusa Dua, Bali, Friday (4/11). . With this potential ...

Source: Kontan

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