Ukraine could export 5.9 mln tonnes of sunflower oil in current agro season - analysts

MOSCOW. June 20 (Interfax) - Ukraine should export an average of 550,000 tonnes of sunflower oil per month in the concluding 2023-2024 agricultural season from July to June, and supplies could reach 5.9 million tonnes overall to the foreign market for the year, Ukrainian media reported, citing information from the Ukragroconsult information and analytical agency.

Ukragroconsult said that average monthly exports have totaled 470,000 tonnes in the 2022-2023 agricultural year, with 5.6 million tonnes of sunflower oil exported for the entire season.

The agency said that the current agricultural season differs from the previous one by the acceleration of exports in the second half of the season.

Ukragroconsult said that exports of sunflower oil by land transport have continued to be in demand throughout the 2023-2024 agricultural season, accounting for 22%-31% of total exports, up to 170,000 tonnes per month. The higher cost of sunflower oil compared to grain allows for more active use of the export option by railway and roadway transport.

Deliveries of sunflower oil by sea generally remained at the same level as last season, though now more sunflower oil goes through the ports in the Odessa Region, whereas they previously went mainly through Nikolayev.