Ukraine. The sharp increase in sunflower exports has a negative impact on oil exports

UkrAgroConsult

The export of Ukrainian goods in October amounted to 9.21 million tons, decreasing by 4.6% compared to September (9.66 million tons). Taras Kachka, Deputy Minister of Economy and Trade Representative of Ukraine, announced this on Facebook.

At the same time, the value of Ukrainian exports decreased by 8.2% to $3.81 billion.

“This was due to both the decrease in export volumes and the decrease in world prices for both food and industrial goods,” Kachka noted.

Thus, the volume of exported wheat in October increased by 9.7% to 1.96 million tons, and corn to 2.2 million tons (+2.7%). On the other hand, due to the completion of harvesting, the export of rapeseed decreased to 669,000 tons, which is 23% less than in September.

“In the oil and fat industry, we have an unpleasant replacement in October. The export of sunflower seeds increased to 308,000 tons from 180,000 tons in September. Instead, oil exports decreased by 10.3% to 454,000 tons,” Kachka noted.

At the same time, despite the drop in volumes, sunflower oil remained the leader in terms of revenue — $502 million, but this is 14.9% less than in September. At the same time, 25% of the total volume of sunflower oil was exported to India.

In total, out of $3.8 billion of Ukrainian exports, $2.5 billion goes to the EU. Among the member states, Poland ($560 million), Romania ($412 million), Germany ($233 million), Hungary ($187 million) and Spain ($186 million) lead the way. The rest of the world purchased goods for $1.3 billion. In particular, Turkey — for $234 million, China — for $152 million, India — for $112 million, the United States — for $76 million, Moldova — also for $76 million.

According to the Ministry of Economy, the import of goods to Ukraine in October increased by 2.6% to $4.6 billion, although its volume decreased slightly by 3.1% to 2.01 million tons. At the same time, 25% of the volume of imports and 16% of the cost is accounted for by oil products.

In general, according to the results of 10 months, the total trade turnover amounted to $80.3 billion, of which $36.9 billion accounted for exports and $43.4 billion for imports. Compared to the same period last year, Ukrainian exports decreased by 32.3%, and imports by only 23.9%.

Tags: Ukraine, China, corn, sunflower, Turkey, export, grain, Romania, EU, Poland, Spain, wheat, India, rapeseed, Germany, Hungary