Ukraine-China. Oilseeds section: strategic partnership at work

UkrAgroConsult

Ukraine actively trades with China in grains (corn, barley) and oilseed products (sunflower, soybean, rapeseed oils and sunflower meal). Among oilseed commodities, the most demanded in the Chinese market are sunflower oil and sunflower meal, whose total exports in MY 2020/21 may reach 1 MMT and 2.2 MMT, respectively.

Ukraine remains the world’s biggest sunoil exporter, accounting for almost half the total volume. Our main competitor is Russia, which increases oilseeds production in order to step up export of oilseed products.

In recent years, China has been steadily holding its position of a major importer of Ukrainian sunflower oil and gaining an increasing market share. This season witnesses another hike in purchases (up 40% y-o-y), while exports to India and EU fell, UkrAgroConsult reports.

China steadily ramps up sunflower oil purchases from Ukraine. While 2010/11 exports were at 6 KMT and, it seems fair to say, China was just tasting our oil, shipments in the first eight months of this year reached 880 KMT.

Growth in sunflower meal purchases by China looks still more rapid than that in the sunflower oil segment. Shipments to the Chinese market, which opened up to Ukraine as late as MY 2017/18, have risen to almost 1.47 MMT this season vs. 117 KMT in the same period in MY 2017/18.

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Tags: Ukraine, China, oilseeds section