Sunflower oil production in Ukraine will exceed pre-war levels this year

The production of oilseeds in Ukraine in 2023/24 MY will increase by about 3.5 mln tonnes compared to the previous season.

According to the report of the association Ukroliyaprom, the sunseed harvest increased by 1.4 mln tonnes, soybeans – by 1.4 mln tonnes, rapeseed – by 0.8 mln tonnes.

“One of the peculiarities of the current marketing year is a significant increase in domestic processing of rapeseed and, accordingly, an increase in production and export of rapeseed oil and meal. Domestic rapeseed processing may reach a record high of 1 mln tons. In July-November of the current marketing year, more than 0.8 mln tons were processed. The production of rapeseed oil is expected to reach 0.42 mln tonnes, and exports – 0.4 mln tonnes,” the experts predict.

Also, according to the Association, in the current season sunflower seed processing is expected to increase to 13.5 mln tonnes (more than 90% of the sunflower resources) and sunflower oil production will increase to 6 mln tonnes, which is more than 3% higher than in pre-war 2020/21 MY.

In particular, in 2023, according to the forecasts of Ukroliyaprom, sunflower oil production is expected to increase to 5.8 mln tonnes, which will exceed its production in pre-war 2021 by 11.5%, and its exports – to 5.5-5.6 mln tonnes (or 10%).

“These forecasts are realistic, but only if oilseeds, in particular sunflower seeds, are processed at domestic facilities to the maximum extent possible, and if no restrictions are imposed on exports of high value-added products, namely oil and meals. This applies most of all to sunflower oil and meal,” the association emphasized.

Tags: sunflower oil, soybean, rapeseed, UkrOliyaProm Association, crop forecast, Ukraine