In the season 2018/2019 MY Ukraine will be able to increase the volume of exports of sunflower oil, not only compared to the previous one, but also set a new record, exceeding the record of 2016/2017 MY. This was reported by APK-Inform with reference to the updated forecast of its own analysts.
According to their estimates, in the current marketing year, Ukrainian producers can supply 5.9 million tons of sunflower oil to foreign markets. This indicator is 11% higher than last year and, in addition, by 0.05 mln tons exceeds the record of the season 2016/2017.
According to Yulia Ivanitskaya, the analyst of the oil markets of “APK-Inform”, analysts have revised the balance sheet in connection with the high yield of sunflower at the beginning of its harvesting in Ukraine. Thus, forecasts for the gross harvest and processing of sunflower in the season 2018/2019 increased by 2%, to 14.8 and 14.6 million tons respectively. Compared to the previous season, this is 10% more.
Ivanitskaya stressed that in addition to higher yield, sunflower seeds also have higher oil content. Due to this, a record volume of sunflower oil production is forecasted at 6.4 million tons, which is 12% higher than the previous season.
According to a preliminary assessment by “APK-Inform”, the volume of exports of Ukrainian sunflower oil in 2017/2018 MY is 5.33 million tonnes, which is 9% less than the 2016/2017 MY.
In the September report, USDA analysts forecast the export of sunflower oil from Ukraine at the level of 5.6 million tons. At the same time, the export performance in 2017/2018 MY, according to the estimates of USDA analysts, was 5.35 million tons.