Ukraine increased production and exports of sunflower oil by 25% over the year

The production and export of sunflower oil in 2022/2023 marketing year increased by 25.4% compared to the previous MY, sunflower meal – by 27.3%.

According to Ukroliyaprom, exports of sunflower seeds decreased by 58% in the first eight months of 2023 compared to the same period in 2022, which allowed to significantly increase its processing at domestic facilities and, accordingly, production and export of high value-added products.

In 2022/2023 MY, production and exports of soybean oil increased by 18%, and exports of soybean meal – by 19.4%. These figures could have been higher if soybean processing had increased domestically, especially given that exports of soybean products are mainly carried out by road and rail.

Despite the forecast of 15% growth of sunflower seed production in 2023/2024 MY, the resources are expected to decrease due to the significant reduction of carry-over stocks at the beginning of the marketing year.

“Under such circumstances, it is possible to reach the processing level of 2022/2023 MY only if the maximum processing of sunflower seeds at domestic facilities is achieved and logistical issues of sunflower oil and meal exports are resolved,” the report says.

Also, there was a significant increase in the processing of rapeseed in 2023 harvest, as evidenced by the significant increase in exports of rapeseed oil in July-August 2023/2024 MY by more than 20 times compared to the same period in 2022.

In 2023/2024 MY, the production of major types of oilseeds is expected to increase by 18.8%.

The growth is forecasted to be driven by both the area growth by 12.1% and the yield growth by 5.7% on average (favorable weather conditions). The largest production growth is forecast for sunflower seeds – by 15%.

Tags: sunflower oil, sunseed, Ukraine