Mumbai, May 6 (Commodities Control): Ukraine is set to achieve record-breaking sunflower oil exports, nearing the highs of the 2019/20 marketing year, according to preliminary data from the APK-Inform Agency. From September to April of the 2023/24 marketing year, the country exported over 4.4 million tonnes of sunflower oil, marking a significant 17% increase compared to the same period in the previous season.
Analysts attribute this surge in exports to the consistent and robust shipments of sunflower oil via sea routes, a pivotal factor in maintaining stable trade flows.
Buoyed by this performance, APK-Inform experts have revised their forecast for sunflower oil exports for the 2023/24 season to 5.6 million tonnes, representing a 4% increase up to April, though slightly down by 1% compared to the 2022/23 marketing year. However, with approximately 79% of the forecast volume already exported, a notable decline in monthly shipment volumes is anticipated as the season progresses.
The looming decrease in exports from May to August of the current season is expected to be driven by a decline in sunflower crushing activities, attributed to dwindling stockpiles. APK-Inform estimates that as of the beginning of May, sunflower oil stocks across the country were at their lowest levels in the past three seasons, signaling potential challenges ahead for the industry.
(By Commoditiescontrol Bureau; +91-9820130172)
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