Ukraine leads global sunflower oil market with 55% share

Ukraine leads global sunflower oil market with 55% shareUkraine remained the leader on the global sunflower oil market with a 55% share at the end of the 2014-2015 marketing year (MY), September 2014 through August 2015, according to the UkrAgroConsult consulting agency's press service.

"Ukraine's leading positions are undeniable. At the end of MY 2014-2015, sunflower oil exports reached 3.87 million tonnes, and Ukraine's share in international trade in sunflower oil was 55% (53% during the 2013-2014 season)," the agency said in a statement.

In MY 2014-2015, Ukraine produced 4.26 million tonnes of sunflower oil, including updates from small-sized enterprises.

"This means that almost a third of the world's total sunflower oil output was produced by Ukrainian oil refineries," the statement said.

Experts from APK-Inform agency earlier forecast that sunflower oil exports from Ukraine in MY 2014-2015 would total 3.9 million tonnes. According to analysts, this figure is 6% down on the previous MY.

Ukraine's State Statistics Service reported that Ukraine produced 2.02 million tonnes of crude sunflower oil in January-July 2015, which was 22.4% down on the same period last year.

In 2014, sunflower oil production in Ukraine grew by 26.7% from 2013, to 4.2 million tonnes.

Source: UNIAN
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