Ukraine: in 2017/18 MY, the exports of sunflower oil reduced

Ukraine: in 2017/18 MY, the exports of sunflower oil reduced

Ukraine: in 2017/18 MY, the exports of sunflower oil reduced

The FINANCIAL -- According to the official statistics figures, for 5 months of 2017/18 MY Ukraine exported 2.1 mln tonnes of sunflower oil, a decrease of 6% compared with the record results in the same period last season.

Taking into account the current forecast at 5.3 mln tonnes in 2017/18 MY, Ukraine already realized its export potential by 40%.

In particular, in January 2018 the supplies of the product on foreign markets increased by 2% compared with the previous month, and totaled 420 thsd tonnes, and also decreased by 10% compared with the same month last year. The situation developed, due to reduction of the harvest and processing volumes of sunflower seed in the current season, according to APK-Inform.

It should be noted that in the reporting month, the exports of Ukrainian sunflower oil to India (half of the general shipments) increased by 15%, after 2-month downward trend.

In February 2018, the shipments were still lower compared with the last year level (down 2%), despite the expected monthly growth of exports at 4%.

At the same time, the stocks of sunflower oil at production facilities and oil filler terminals, which reached a record level, and moderate demand, still continued playing a deterrent role on the market during formation of short-term prices.