Ukroilprom: sunflowerseed oil production in Ukraine foreseen quarter higher in 2021/22
In 2021/22(September 2021-August 2022), sunflowerseed oil production in Ukraine is anticipated to increase to 7.1-7.2 mln t, 24.13% up YoY. Of this volume, 6.55-6.6 mln t is forecast to be exported, the Association Ukroilprom projects.
Analysts expect producers to harvest a record-high sunflowerseed crop in Ukraine in 2021/22. By various estimates, it is projected between 16 and 17 mln t.
Preliminary estimates of Ukraine's vegetable oil production in 2020/21 are pegged at 6.13 mln t. Of these, 5.8 mln t is sunflowerseed oil, 210 thou. t is soybean oil and 116 thou. t — rapeseed oil.
According to analysts, the export of these products in 2020/21 was approximately 5.61 mln t, most of which was sunflower oil — 5.28 mln t. In addition, 233 thou. t of soybean oil and 103 thou. t of rapeseed oil were shipped to foreign markets from Ukraine.
Reportedly, the 2020/21 season, which ended in August this year, brought many unexpected and unpleasant surprises both for agricultural producers and for oilseeds processors and end consumers of products in the domestic food market.
The rise in sunflowerseed oil prices in 2020/21 was determined by both global trends and domestic factors.
A reduction in the bulk yield of oilseeds in Ukraine vs. the previous marketing year by more than 3.5 mln t, including sunflowerseeds by 2 mln t, is one of the distinctive features of 2020/21, according to experts of the association. Furthermore, the restrained sales of sunflowerseeds by agricultural producers and the non-delivery of these agricultural raw materials under previously concluded forward contracts with oilseeds crushing plants also had a negative impact on the market.
As a reminder, unrefined sunflowerseed oil output in Ukraine in 2020/21 totalled 4.7 mln t, refined sunoil 745.3 thou. t.
Crushing plants in Ukraine finalized the 2020/21 season ahead of schedule.
Inside view: Vegetable Oil Refinery and Deodorization Plant