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Ukrainian sunflower oil exports is a hostage of the grain corridor

Updated Mar 13, 2023
The SFO prices, starting from December 2022 tends to decrease being even lower than Soybean oil prices. Total number of mid-size and large crushers in Ukraine – 118 factories, roughly 20% of them do not operate due to damages and military risks.
In the first half of 2022/23 (Sept.2022-Feb.2023), Ukraine shipped abroad 69% and 63% of sunflower seed (SFS) and the sunflower oil (SFO) export potential correspondingly. However, in Late February – Early March uncertainty of the grain corridor prolongation has once again practically paralyzed making SFO exports contracts. This may slow considerably the SFS crushing and decrease the crushing to minimal levels. Besides the uncertainties of the corridor prolongation, Ukraine SFS crushing rates are affected by growing exports of SFS and other oilseeds. The crushers has already lobbied more strict SFS export regulation. India and China demand is likely to recover for key veg oil (palm oil, soybean, SFO). In the 2022/23 season soybean oil imports to India decreased by 25%. War in Ukraine promote SFO flows changes: Early start of spring plantings, oil crops remain the most profitable crops. Despite all the difficulties and peculiarities of the current season, the potential of the ...
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