Huge drop in sunflower oil exports from Ukraine
26-Mar-2025 02:58 PM
Kiev. Exports of sunflower oil from Ukraine, Russia's neighboring country located in the Black Sea region, have declined to the lowest level in the last eight years.
54 percent of its total exports were imported by the European Union. In the remaining months of the current marketing season, about 20 lakh tonnes of sunflower oil can be shipped from there because on March 1, 2025, about 60-70 lakh tonnes of sunflower stock was left in Ukraine. But due to its high price and fluctuations in oil prices, export performance is expected to be affected.
Ukrainian producers are holding back sunflower stock and selling it in limited quantities in anticipation of price rise in the coming time.
The offer price of sunflower oil with high olive content is being reported to be $ 1590 per tonne on CIF basis for export to China at Odessa port of Ukraine and the offer price of crude sunflower oil is $ 1160 per tonne.
Buyers are bidding at $1140-1145 per tonne. The FCA offer price of refined sunflower oil is said to be $1220 per tonne and the price of bottled oil is $1.28 per litre.
On the other hand, the export of sunflower oil from Russia has increased by 9 percent compared to the 2023-24 season to 25.10 lakh tonnes in the current marketing season of 2024-25, while its total export from there is estimated to increase from 52 lakh tonnes to 55 lakh tonnes during the entire marketing season.
Many countries including India are importing large quantities of sunflower oil from Russia. There is adequate stock of sunflower and its oil there and despite the increase in exports, there is no possibility of its shortage in the domestic division.
The price of sunflower oil in containers for reaching Shanghai port of China from Russia is being reported to be $1185 per tonne.
The export offer price of crude sunflower oil at Russian ports is $1020-1050 per tonne and refined sunflower oil is $1100 per tonne. An export duty of $54 per tonne is likely to be imposed on it for April.
The strengthening of the exchange rate of the Russian currency ruble against the dollar may have some impact on exports.