EU increased purchases of sunflower oil by 21% this season

The countries of the European Union imported about 4.15 mln tonnes of vegetable oils from July 2023 to mid-February 2024, which is 6% lower than the level in the same period last season (4.4 mln tonnes). Such data were released by the European Commission analysts.

They note that the reduction in supplies is due to a significant decline in imports of palm and rapeseed oil – by 20% and 10%, to 2.06 million tons and 271.8 thousand tons, respectively.

At the same time, the experts recorded the increase in imports of soybean and sunflower oil to the EU – by 14% and 21%, to 372.85 thsd tonnes and 1.45 mln tonnes respectively.

According to the European Commission, the main volumes of palm oil came to Europe from Indonesia (629.8 thsd tonnes). Soybean, rapeseed, and sunflower oil were most actively imported from Ukraine – 136.4 thousand tons, 106.9 thousand tons, and 1.34 million tons, respectively.

In addition, according to the European Commission, in the period under review, the countries of the bloc reduced the imports of oilseeds by 22% to 11.15 mln tonnes. The supply of meal also dropped by 10%, to 11.33 mln tons.

Tags: palm oil, rapeseed oil, sunflower oil, soybean oil, EU