Ukraine increases exports of sunflower and rapeseed oil to the EU

Since the beginning of July, Ukraine has sold more than 726.7 thousand tons of vegetable oils to the EU market, which is almost a third higher than the level for the same period last year (552 thousand tons). These data were published by the European Commission in its monitoring.

It is noted that from July 1 to October 15, the EU imported slightly more than 620 thsd tonnes of Ukrainian sunflower oil (the share of 93.3% in 2023/24 MY), compared to 460.4 thsd tonnes a year earlier (the share of 89.9% in 2022/23 MY).

The increase of shipments to Europe is also recorded for Ukrainian rapeseed oil – from 21.2 thsd tonnes last season (the share – 13.5%) to 53.2 thsd tonnes in the current season (the share – 36.4%). It is noteworthy that last year Ukraine ranked only third in terms of exports of this product to the territory of the bloc, behind Belarus and the UK, which are now fourth and second in the ranking, respectively.

At the same time, the supply of Ukrainian soybean oil to the EU, on the contrary, dropped from 70.4 thsd tonnes in 2022/23 MY (55.2% share) to 53.6 thsd tonnes in 2023/24 MY (25.5% share). The decline is due to a significant increase in EU purchases of finished product from Argentina. The South American region gradually stabilized the fat and oil sector after the shortage of raw materials due to the worst drought in the country in the last few decades.

Tags: Ukraine, sunflower oil, soybean oil, rapeseed oil