Ukraine has already exported 5.14 million tons of sunflower oil in the 2023/24 season

Published 2024년 6월 12일

Tridge summary

In May 2023, Ukraine achieved a 14% increase in sunflower oil exports, reaching 714 thousand tons, the highest monthly figure since January 2021, making it the third largest monthly export volume in the country's history. From September to May of the 2023/24 marketing year, Ukraine set a record by exporting 5.14 million tons of oil. The high demand for sunflower oil, due to its competitive pricing compared to other vegetable oils, has been a significant factor in this active export season. However, stocks are expected to decrease in the coming months due to near-record processing rates and a lower oil crop yield. The European Union continues to be the primary market for Ukrainian sunflower oil, accounting for 60% of exports and making Ukraine the main supplier to the EU. Despite this, the average price of sunflower oil delivered to Black Sea ports has increased by 1.5% to $934/t, a total increase of 9.2% for the month.

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

Original content

According to the updated assessment of IA "APK-Inform", in May 2023/24 MR, 714 thousand tons of sunflower oil were exported from Ukraine (+14% compared to April), which was the maximum monthly volume since January 2021. In general, in the entire history of the export of this product from the country, this is the third largest monthly volume of shipments. According to the results of September-May 2023/24 MR, Ukraine exported a record 5.14 million tons of oil for this period, while the USDA forecast for the entire season was 5.8 million tons and production was about 6.3 million tons. One of the main factors that contributed to the active export of the product in the current season was the high demand for sunflower oil against the background of its competitive cost compared to other vegetable oils. Taking into account the near-record pace of sunflower processing in the 2023/24 season and the lower yield of the oil crop in 2023, stocks of this crop at the beginning of June, according ...

Source: Graintrade