Ukraine: The export of sunflower oil from Bulgaria is at a 3-year low

Published May 20, 2024

Tridge summary

Bulgaria's sunflower oil exports experienced a decline, reaching their lowest level since 2021 with a 18.3% decrease compared to the previous season and 12.8% below the 2021/22 season. Despite this, exports still surpassed the five-year average. The war in Ukraine led to a surge in sunflower imports, but these imports remained low due to price changes and the recovery of processing in Ukraine. Over 0.1Mt of exports were made to the EU, and about 0.35Mt were sold to third countries, with Iraq, South Africa, and Spain being the top destinations.

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

Original content

From the beginning of the season in September 2023 until the middle of May this year, the export of sunflower oil from Bulgaria reported its lowest level since 2021. Exports reached just over 0.45Mt, which is 18.3% less compared to the same period of the previous season and 12.8% below 2021/22. Not everything is pessimistic, however, because although at a 3-year low, the export rate is still above the five-year average of 4.4 Mt. The war in Ukraine gave an extremely strong boost to our processing industry due to record imports of sunflowers at competitive prices. The change came after the ban on imports from Ukraine put processors in a difficult position. Although subsequently liberalized, imports remained at low levels due to price changes and recovery of processing in ...

Source: Agroportal