1 November 2017
In 2017/18 MY, Ukraine can increase its presence on the European market of vegetable oils, which will be primarily due to the expected increase in demand for sunflower oil.
Such a forecast was voiced by an analyst of Agritel International Olivier Bouye.
According to the expert estimates, rapeseed oil – 61% will continue to take the leading positions in the industrial sector of vegetable oils in the EU in 2017/18 MY, followed by palm oil (29%), soy oil (7%) and sunflower oil (3%). At the same time, the high demand for rapeseed oil will be ensured by the growing production of biofuels and ethanol in the EU, due to which import of this product of processing in the EU countries is also high, and by the end of 2016/17 MY, Ukraine has become the largest supplier of rapeseed oil in the EU, having provided 43.7% of the total import volume.
“In turn, sunflower oil – 37% will take the largest share of vegetable oils consumption in the food sector in the new season, followed by rapeseed oil – 27%, palm oil – 25% and soy oil – 11%”, Bouye added.
At the same time, he recalled that, according to the results of 2016/17 MY, the volume of Ukrainian sunflower oil imports in the EU reached 1.5 million tons, which allowed the country becoming an absolute leader in shipment of this product with a share of 92.2% of the total volume purchased.
“In the new season, this indicator is likely to increase further due to changes in the structure of domestic consumption of oils in European countries”, the speaker summed up.
