News
21.06.2011
Ukraine can fully cover the needs of Turkey in sunflower oil on the eve of Ramadan
According to operators of the Turkish market, after Turkish traders exhausted the quotas on imports of sunflower seed and sunflower oil at reduced import duties (0% and 15%, respectively), they switched to purchasing of crude sunflower oil at the import rate of 36%. For example, one of the largest trading operators in Turkey – the company Trakya Birlik - announced the tender for purchasing of 3 thsd tonnes of sunflower oil on the basis C&F-Marmara. Delivery of the specified commodities to the importer is scheduled for early July 2011. The final deadline for acceptance of applications for participation in the deal - June 21, 2011.
Turkish traders also reported that the prospects for imports of crude sunflower oil to the country before the beginning of the new season (August 2011) total nearly 50 thsd tonnes. The growth of purchasing volumes is caused by the increased demand in the commodities in anticipation of Ramadan.
It should be noted that Ukraine is the largest supplier of sunflower oil to Turkey. Beginning from September 2010 to May 2011 Ukraine supplied 2.14 mln tonnes of sunflower oil on foreign markets, including Turkey - 186.3 thsd tonnes. Potentially, Turkey will be able to ensure own needs in additional 50 thsd tonnes of sunflower oil at the expense of imports from Ukraine, because according to experts estimates of APK-Inform Agency, till the end of 2010/11 MY (September 2011) Ukraine can export additional 560 thsd tonnes of these products.
Source from AgrimarketInfo
