Turkey to increase sunflower oil imports in the second part of the season

Turkey will increase imports of sunflower oil from April to September 2024 on the background of depletion of domestic stocks of the product in the last 5-6 months. This forecast was published by analysts of the Hamburg-based analytical agency OilWorld (Germany).

So far, according to their estimates, from October to December 2023, 228.8 thousand tons of sunflower oil were imported into the country against 224.1 thousand tons in the same period of the last agricultural year. The main volumes were supplied from Ukraine and Russia – 173.1 thousand tons and 39.7 thousand tons respectively.

As noted in OilWorld (Germany), domestic consumption of the product in Turkey in the current season will grow to 1.44 million tons from 1.31 million tons a year earlier. Production will decrease to 810,000 tons from 940,000 tons and exports to 660,000 tons from 709,000 tons, respectively.

It is also expected that sunseed harvest in 2023/24 MY may decrease to 1.28 million tons against 1.73 million tons in the previous season.

Tags: Turkey, imports, Ukraine, Russia, sunflower oil