10 Oct 2022 10:10

Ukraine doubles revenue from oil crop exports in Jan-Aug as revenue from oil exports slump 11% - IAE

MOSCOW. Oct 10 (Interfax) - Ukraine's revenues from oil crop exports doubled year-on-year to $1.7 billion in the first eight months of 2022, Ukrainian media quoted the Institute of Agrarian Economics (IAE) as saying.

The country exported 1.6 million tonnes of sunflower seeds for $823 million, 900,000 tonnes of rapeseed for $415 million and 800,000 tonnes of soybeans for $413 million in the eight months.

The biggest markets for Ukraine's oil crops were Romania, Bulgaria and Turkey, accounting for, respectively, 19.3%, 18.0% and 16.9% of the total exports. Another 12.2% went to Poland, 7.9% to Hungary, 5.9% to Germany, 3.7% to Moldova and 3.1% to the Netherlands.

Ukraine also exported $3.65 billion worth of vegetable oil and fat in the eight months, 11% less than a year earlier. Sunflower oil exports amounted to $3.36 billion, or 92% of the total, IAE data showed.

The leading importers of Ukrainian vegetable oil and fat were Poland with 14.5% of the total, India with 11.7%, Turkey with 9.8%, the Netherlands with 8.1%, Italy with 5.4%, Bulgaria with 4.9%, Spain with 4.7% and Romania with 4.5%.