The volume of sunflower processing in Ukraine by the end of the current season could be reduced by 10% for the year – to 10.4 million tons, according to the forecast of the agency “APK-Inform”. According to experts, since the beginning of the current MY (September-December), the local oil extraction enterprises have processed the minimum amount of sunflower since the 2015/16 season – less than 4.5 million tons.
“Significant factors slowing down oilseed processing are the crisis in the energy sector of the country, limits on the use of electricity, and too slow pace of shipment of sunflower oil,” the report says.
Experts also pay special attention to export: so, for the first 4 months of the current season, almost 1.2 million tons of sunflowers were exported from Ukraine, which amounted to half of the forecast for the entire MY.
“This figure is typically high for the industry, contributes to a significant increase in competition for raw materials, the increase in prices for it even when the price of oil demand decreases and, as a consequence, a more rapid reduction of sunflower supply in the market,” – said Svetlana Kirichok, an analyst of the agency.
As for sunflower oil, its exports by the end of 2022/23 MY could reach the mark of 4.15 million tons – the lowest value for the industry since 2015/16 MY.
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