Ukraine to increase domestic consumption of sunflower meal

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The rise in Ukraine’s 2021/22 crop of sunflower seed and soybeans by 21% and 15%, respectively, will influence domestic crush volumes and meal production. According to UkrAgroConsult’s estimates, this season will witness a 19% gain in sunflower meal output and a 3% increase in that of soybean meal.

While sunflower meal production traditionally depends on the sunflower seed crop, soybean crushers have to compete with exporters of the raw material, who are favored by VAT refunds and demand from major importers.

The beginning of MY 2021/22 featured tight supply in the oilseed markets. This resulted in sluggish trade, a slow pace of both domestic crush and export shipments, and a gain in domestic oilseed prices despite advancing harvest.

The fall in the price spread between soybean and sunflower meals must traditionally favor consumption of the soybean product, but there are factors strengthening demand for sunflower meal.

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UkrAgroConsult

Tags: sunflower meal, Ukraine, sunflower, soybean, soybean meal, crusher