The export indicator of sunflower oil is 11% higher than the previous season

The potential for export of sunflower oil in 2018/19 can reach an absolute maximum, beating the previous years’ record – 5.85 million tons, writes Agro-Center.

Last year, 114.5-115 billion UAH worth of sunflower oil was exported from Ukraine. In 2018, the export indicator of sunflower oil was 11% higher than the previous season. This year it is about 5.9 million tons of oil.

Yulia Ivanitska, oil analyst at IA “APK-Inform”, said:

“The beginning of the sunflower harvesting campaign was marked by a very good crop, due to which the balance indicators were raised. In particular, forecasts for gross oil production and processing in 2018/19 were increased by 2% – to 14.8 and 14.6 million tons respectively, which is 10% more than the previous season.”

Future production of sunflower oil is estimated at a record amount of 6.4 million tons. It is supported by increased crop yields and higher seed oil content. It is 12% higher than the previous season.

However, there is a shortage of trucks in Ukraine. It leads to an increase in the cost of transportation of oil. Tens of thousands of dollars may be lost because of a disruption of the export process. Enterprises are forced to use private trucks, the market value of which reaches 1200-1500 UAH/day. Therefore, the cost of transportation of goods has increased by 40-50%.