Ukrainian sunflower oil exports: Logistic routes in the 2023/24 season

UkrAgroConsult

Article author:

Maksym Kharchenko

Freight Market Analyst

Average monthly exports (K mt) 

• 2022/23 season – 470;
• 2023/24 – 550;

UkrAgroConsult forecasts that Ukraine will export 5.9 M mt of SFO this season. The export potential for 3 months of the 2023/24 season (June-August) is estimated at about 1 M mt. The largest monthly SFO export was registered in December 2023 (673 K mt). A record monthly export of 757 K mt was recorded in November 2020.

The main difference of 2023/24 is higher exports in the second half of the season (from Jan-Feb 2024).

SFO exports by land remained in demand in 2023/24, ranging from 22% to 31% of total monthly exports, with the largest shipments of 170 K mt per month. Higher SFO prices relative to grain values made the option of exporting by rail and road more actively used by exporters.

Exports through sea and river ports 

In 2023/24, SFO exports by sea was divided in half between the ports of the Danube region and the ports of Big Odesa. In the spring, ports in Odesa region became more frequent targets for missile attacks. It was rumored in April, the terminal of the Delta Wilmar company (Singapore), port of Pivdennyi, storage capacity up to 100 K mt of vegetable oil, was damaged. In May, SFO exports through Pivdennyi port decreased by 40% compared to April, which may indicate serious damage to the terminal.

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Tags: logistics, Ukraine, sunflower oil, export, prices