Ukraine reduced sunflower oil exports by almost a quarter in MY 2024/25

In August, Ukraine reduced its sunflower oil exports to 150,000 tons, which was the lowest monthly volume in over 3 years and the second lowest monthly figure in the last 14 seasons.

The reduction occurred in all major supply routes, and there were no shipments to India at all.

The decrease in export rates is due to seasonal factors, in particular, a reduction in the sunseed harvest and its supply on the domestic market, which reduced processing volumes and margins, as well as a decrease in demand from some importers in anticipation of supplies of cheaper oil from the new harvest.

In total, in the MY 2024/25, Ukraine exported 4.73 million tons of sunflower oil, which is 24% lower than the previous season and is the lowest level in the last three seasons.

At the same time, deliveries to the main sales markets in the MY 2024/25 increased compared to the previous season:

• India – by 44% to 767 thousand tons,
• Spain – by 11% to 656 thousand tons,
• Italy – by 28% to 504 thousand tons.

It should be noted that overall, the current season has become quite difficult for the Ukrainian sunseed processing sector, which forced plants to seek better profitability in soybean and rapeseed processing, and also became an impetus for the adoption of “soybean-rapeseed amendments.”

Export demand prices for sunflower oil in Ukraine remain at a high level of $1,170-1,200/t for delivery to the port or western border in September-October against the backdrop of low supply and a decline in the sunseed harvest in the south. But in October-November prices may decline under the pressure of a seasonal increase in the supply of sunflower oil from the Black Sea region and palm oil from Asia.

Tags: sunflower oil, export, Ukraine