News
05.02.2014
In 2013 exports of sunflower oil has decreased by 11%
In 2013, exports of sunflower oil decreased by 404,6 ths t (11,2%) up to 3209,4 ths t compared to the previous year. In money equivalent, the reduction amounts to 693,1 mln USD or 17,4%. It was informed by the Association "Ukrainian Agribusiness Club” (UCAB).
Reducing the volume of exports was caused mainly by the decrease in oil production. According to UCAB, it has been produced 3269,4 ths t of unrefined sunflower oil in 2013 in Ukraine that is by 10,1% less than in 2012.
Despite of record harvest of sunflower in the past year totalled 11 mln t, the processing enterprises failed to keep up with the pace of sunflower oil production in 2012. The main obstacle was the weather conditions delayed harvesting, and as a consequence, postponed processing.
Another cause of the noticeable decrease in export in monetary terms the UCAB experts called the price drop for sunflower oil on the international market in 2013.
"In result of the forecast of increasing the world's palm oil ending stocks by 1,2 mln t (16,9%) up to 8,2 mln t, the level of prices for vegetable oils on the world market significantly decreased compared with the previous marketing year. Processing emterprises are very dependent on the price situation on the international market, because in average 92% of sunflower oil has been export-oriented for the last five years. Seed producers also have to act within the framework of the global trends. Issues of optimization processes in sunflowers growing as well as ways to increase its profitability will be discussed in details at the International Forum "Cash Crop", which will be held on February 20 in Kiev”, - says expert on agricultural markets of UCAB Igor Ostapchuk.
Association “Ukrainian Agribusiness Club”
3 floor, 146 Zhylianska Str.
01032 Kyiv, Ukraine
Phone/Fax: +380 44 2362097/79
