Ukraine retains leadership in the Chinese sunflower meal market

UkrAgroConsult

In the 2022/2023 season, which will end on September 30, China will import 2.7 mln tonnes of sunflower meal, up 39% from the previous season, according to the Foreign Agricultural Service of the US Department of Agriculture (FAS USDA).

Sunflower meal has become more attractive to Chinese consumers after soybean meal rose sharply in the second half of this season.

The imports of sunflower meal in the first eight months of the season reached 2.2 mln tonnes. Ukraine accounted for the lion’s share of supplies (74%).

The supply volumes of Ukrainian sunflower meal have been stable this season, while imports from Bulgaria and Russia have increased significantly. From June 2022 to May 2023, China imported 282.7 thsd tonnes of sunflower and rapeseed meal from Russia (73.9 thsd tonnes in the same period a year earlier). Also, the supplies of sunflower meal from Bulgaria increased to 599.0 (320.7) thsd tonnes. The total imports of sunflower meal to China amounted to 4 771.2 (4 516.7) thsd tonnes in the reporting period.

According to the forecasts of FAS USDA, in 2023/2024 season the imports of sunflower meal will decrease to 2.5 mln tonnes.

Further development of grain and oilseed market in Ukraine and globally will be discussed at the International Conference ‘BLACK SEA GRAIN & OIL. THE WAY TO RECOVERY‘ on September 14 in Kyiv. Join agribusiness professionals to discuss forecasts for the new 2023/24 season, prospects for investments, processing, logistics and exports for the recovery and development of Ukrainian agricultural sector.

Tags: China, sunflower meal, Ukraine