Dramatic Drop in August Exports
According to operational data from APK-Inform, Ukraine exported about 200 thousand tons of sunflower oil in the first 25 days of August, which represents a staggering 45% decrease compared to the same period in July. Preliminary estimates by the agency’s analysts suggest that the total export volume for the entire month of August may reach its lowest monthly figure in over two years. This decline is primarily attributed to a reduction in sunflower processing in the country, driven by a shortage of raw materials.
A Year of Highs and Lows
From September to August 25 of the 2023/24 marketing year, Ukraine exported just over 6.23 million tons of sunflower oil, positioning it as one of the largest volumes for this period. The European Union has been the leading destination for Ukrainian oil exports this season, with a record volume of nearly 3.7 million tons shipped.
Future Outlook: Continued Challenges Ahead
Looking ahead, APK-Inform forecasts suggest that there is unlikely to be a significant increase in sunflower oil exports from Ukraine in September this year. This is due to the low availability of sunflower seeds in the domestic market, both from the old and new harvests, which has severely complicated the formation of a stable raw material base. Despite the earlier start of the oilseed harvest at the beginning of August, the supply of sunflower seeds remains very limited. Consequently, most processing enterprises have extended their maintenance and repair periods, planning to resume operations no earlier than September.
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