USDA improved the forecast of Ukrainian sunflower oil exports
The U.S. Department of Agriculture (USDA) increased the forecast of vegetable oil exports from Ukraine in 2023/24 MY. This is stated in the January USDA report.
Thus, analysts expect Ukraine to export 6.4 mln tonnes of vegetable oils in the current season, which is 100 thsd tonnes more than forecasted in December. Exports of meals will increase by 50 thsd tonnes to 6.05 mln tonnes.
The increase in exports of oils will be due to sunflower, the supply of which to foreign markets will amount to 5.7 million tons (+100 thousand tons). The forecast for sunflower meal exports is 4.7 mln tonnes (+50 thsd tonnes).
At the same time, the experts increased the estimate of sunflower oil production to 6.065 mln tonnes (+45 thsd tonnes), and sunflower meal production – by 43 thsd tonnes, to 5.825 mln tonnes.
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