Ukraine has reduced the export of sunflower oil by 15% due to a reduction in purchases by China and India

Published 2021년 12월 28일

Tridge summary

Ukraine saw a 15% decrease in sunflower oil exports in the September-November period compared to the previous year, dropping to 1.35 million tons, as demand from traditional buyers China and India declined due to high prices and lack of supply. India's imports fell by 11.5% to 466.5 thousand tons, and China's imports were cut in half to 247.1 thousand tons. However, this decline was partially balanced by a 26.5% increase in demand from the EU, importing 366.8 thousand tons. The price of Black Sea sunflower oil fell from $1,400 to $1,300/t FOB due to lower prices in soybean and palm oil, but prices for palm oil and January soybean oil futures have since risen, which is expected to support sunflower oil prices in the future.

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

Original content

Ukraine during September-November reduced the export of sunflower oil by 15% compared to the same period last year to 1.35 million tons due to a drop in demand from China and India, the Ukroliyaprom association reported. In particular, India, which is the main buyer of Ukrainian sunflower oil, reduced its imports during the specified period by 11.5% to 466.5 thousand tons, although in 2020/21 MY it acquired 1.56 million tons of Ukrainian oil, which amounted to 30% of the total the volume of its exports. China, which is the second largest buyer of Ukrainian sunflower oil, during this period reduced purchases by 50% to 247.1 thousand tons, of which 177.8 thousand tons were shipped in November. The main reasons for the decline in demand for sunflower oil were high prices and a lack of supply at the beginning of the season, which made buyers prefer cheaper soybean oil. In China, at the beginning of the season, significant carryover stocks of sunflower oil were formed, so he was in no ...

Source: Oilworld