Ukraine: Sunflower oil imports to the EU will decrease

Published Nov 16, 2024

Tridge summary

The international price agency Argus has forecasted a significant decrease in sunflower oil imports to India, from 3.4 million tons to 1.9 million tons, compared to the previous season. However, Indian traders refuse this prediction, expecting either the same import volume of 3.4 million tons or an increase to 3.9 million tons. In case imports drop, the demand for soybean oil will surge. Additionally, the EU and Ukraine have experienced a decrease in canola harvest, potentially leading to increased imports from Australia and Canada. For the 2025/2026 season, Argus analysts anticipate European rapeseed production to reach 18.8 million tons, while import demand is expected to remain steady at 7-8 million tons.

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

Original content

This was announced by the senior analyst of the oil crops market of the international price agency Argus Hrystyna Yavorska during the International Conference "Fat-and-Oil Industry 2024". “The USDA is forecasting a sharp decline in sunflower oil imports to India — 1.9 million tons — compared to last season's 3.4 million tons. At the same time, Indian traders do not agree with this forecast and believe that the import of sunflower oil will reach the same 3.4 million tons or even 3.9 million tons. If the import of sunflower oil will be smaller, then the demand for soybean oil will grow," the expert noted. This season, the European Union and Ukraine have harvested less canola, so there are still opportunities for Europe to import from Australia and Canada. Today, ...

Source: AgroPortal.ua