Turkey is set to increase its sunflower oil imports in the second half of the current season due to a decrease in stocks, with the majority of imports coming from Ukraine. Despite this, the total sunflower oil imports for FY 2023/24 are predicted to slightly decrease to 1.18 million tons. Domestic oil consumption in Turkey is expected to rise significantly, while production and exports are likely to decrease. A substantial reduction in the sunflower crop in Turkey is also anticipated in FY 2023/24. The majority of shipments were to European Union countries, which saw a 10% decrease.
Disclaimer: The above summary was generated by a state-of-the-art LLM model and is intended for informational purposes only. It is recommended that readers refer to the original article for more context.
Original content
It is predicted that Turkey will increase the import of sunflower oil, which in the second half of the current season (April-September) will exceed last year's figure, taking into account the reduction of stocks during the last 5-6 months, reports IA "APK-Inform" with reference to Oil World company experts. In October-December 2023/24 MR, the volume of sunflower oil imports to Turkey amounted to 228.8 thousand tons (against 224.1 thousand tons in the corresponding period of the previous season), of which 173.1 thousand tons were imported from Ukraine, 39 7 thousand tons from Russia and 13.2 thousand tons from Serbia. Turkey's total sunflower oil imports in FY 2023/24 are forecast to slightly decrease to 1.18 million tons compared to 1.26 million tons in FY 2022/23. At the same time, domestic oil consumption in Turkey in the current FY will significantly increase to 1.44 (1.31) million tons, as production is expected to decrease to 810 (940) thousand tons and exports to 660 (709) ...
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