Analysts note a record increase in the supply of sunflower oil from Ukraine.
The record volume for 2019-2020 MY is 6.63 mln tonnes – this is how much products were transported by sea. These data were published in an analysis compiled by the port agent Stark Shipping for the period from 01.09.2019 to 31.08.2020.
According to the press service of the company, during the current MY, oil was exported in the amount of 5.96 mln tonnes on tankers and 933 thsd tonnes in containers. By the way, the number of products transported in containers has increased by 42%. The company also noted that sunflower oil accounted for 5% of the total amount of all products exported from the country. The main importing countries are China, India and the EU.
The first position in the ranking of large importers has been occupied by India for several years in a row. The country buys 33.1% of the total volume of oilseed products supplied by Ukraine. But do not ignore the fact that for the period from 2019 to 2020, the number of purchases decreased by 16%. This is due to the fact that another competitor – Russia – has begun to actively develop in the market. For example, this year the country exported much more products, exceeding last year’s figures by 309.4 thousand tons.
As for China, in this case, the numbers are increasing and the overall figure reached +11% compared to the previous MY. One would expect higher indicators if it were not for the competition from Russia described above. This season, the country supplied 752.7 thousand tons of products to the Celestial Empire. For comparison, in the previous MY, the total volume amounted to 227.7 thsd tonnes.
The increased demand for oilseed products in China is due to several reasons at once: a reduction in the processing of raw materials and, as a result, a decrease in the amount of vegetable oil produced.
The market situation between Ukraine and the EU countries is characterized by an increase in the volume of exported products. Deliveries to Europe account for about 32% of the total. In some countries, the number of deliveries has increased. For example, in France, the increase was 100%, in Spain – 23%, and in Italy – 10%.
Negative dynamics (decrease in exports) are observed in Portugal, Great Britain and Greece, these are -61%, -15% and 9%, respectively.
It is also worth noting the fact that this season Romania acted as an importer for the first time.