Covid-19 pandemic has no impact on high-oleic sunflower oil market — opinion

The high-oleic (HO) sunflower oil market was not affected negatively by the Covid-19 pandemic in the past 2020/21 season, states Fabrice Turon,‎ Head of Research at FAT & Associés, the APK-Inform consultancy writes.

He marks that in 2020 the growth of production of high-oleic sunflower oil in the EU countries made up 25% YoY. In the Black Sea countries, the production volume of HO oil decreased by 18% due to the low yield of high-oleic sunflowerseeds in Ukraine, despite the expansion of cultivated areas driven by an attractive price for producers.

The expert notes that the demand for high-oleic sunflower oil has increased from the countries of the Asia-Pacific region in view of the growing domestic consumption in this segment of the market.

"At that, the demand for the Black Sea high-oleic sunflower oil in the Asia-Pacific region was higher than for the Argentinean oil, in particular, on the part of the Chinese consumers. European buyers traditionally preferred Ukrainian products as there are no duties," says Fabrice Turon.

High-oleic sunflowerseeds and oil production in Ukraine (click for higher resolution)

Crude sunflower oil production in Ukraine in 2020/21 totalled 4.7 mln t. Refined sunflower oil output by crushers in Ukraine made up 745.3 thou. t.

Ukroilprom projects sunflower oil production in Ukraine in 2021/22 to grow by 24% YoY.


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