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The Ukrainian sunflower oil market is a hostage of the grain corridor

Updated Mar 15, 2023
In the first half of 2022/23, Ukraine realized about 69% of the export potential of the sunflower market and 63% of the sunflower oil market. This was reported by Svitlana Kupreyeva, an analyst at UkrAgroConsult Oil Market Analyst. Starting from October 2022, the price of sunflower oil will remain at favorable levels for the buyer compared to the main competitor - soybean oil. Currently, the potential of the oil and fat industry remains stable even with the reduction of processing capacities.
Uncertainty regarding the continuation of the export of Ukrainian agricultural goods by sea has once again practically paralyzed foreign trade, which may negatively affect the work of sunflower oil factories and lead to a decrease in processing volumes to a minimum after high indicators. An important internal factor affecting the work of the oil and fat industry is the outflow of raw materials for export. We would like to remind you that Ukraine has already raised the issue of sunflower export regulation at the legislative level. On the part of the key global importers - India and China, demand for all types of basic vegetable oils (palm, soybean, sunflower) is expected to recover in FY 2022/23, except for the import of soybean oil to India (-25%). The unstable situation in Ukraine leads to a reorientation of sunflower oil markets: competition between Ukraine and Russia is intensifying in the markets of China ...
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