Fat and oil processing scaled up so far 2019/20
Despite the financial and economic crisis, quarantine brought about by the COVID-19 pandemic, the fat and oil industry in Ukraine is demonstrating production growth, the Ukroilprom Association reports.
In the period of September-June 2019/20(MY2019/20: September-August), oil and fat products output increased YoY:
- unrefined sunflower oil: ▲9.7%
- refined sunflower oil: ▲24%
- sunflower meal: ▲2.5%
- margarine and specialty fats: ▲10%
- sauces, including mayonnaise: ▲11.4%
In the reporting period, the production of soybean oil decreased by 6.8% and soybean meal by 7.3% as a result of raw materials (soybean) deficit in the domestic market, the Association informs.
Previously reported that MHP's soybean oil exports were 19% higher YoY in Q2 2020.