For 18 years, Ukraine increased the exports of sunflower oil in 25 times

For 18 years, Ukraine increased the exports of sunflower oil in 25 times

For 18 years, Ukraine increased the exports of sunflower oil in 25 times

The FINANCIAL -- During 18 recent years, Ukraine increased the annual production of sunflower oil in 13.3 times, from 432.8 thsd tonnes in the season-1998/99, to 5.65 mln tonnes expected in 2017/18 MY, declared the General Director at the association Ukroliyaprom, Stepan Kapshuk during his report at the second international Sunflower Oil Summit: Science & Industry on July 11.

As for the export growth of the product from Ukraine in the same period, the figures are even more impressive, starting from 206.1 thsd tonnes in 1998/1999 MY to 5.2 mln tonnes expected in the following season. Thus, the export growth will reach 24.7 times, S.Kapshuk added.

Also, the demand for Ukrainian sunflower oil on the global market contributed to increase in the production of sunflower seed in Ukraine in 1998/99-2017/18 MYs, from 2.26 mln tonnes to expected 13.5 mln tonnes, or up almost 6 times.

The reporting indicators will allow to Ukraine to remain the largest global country-exporter of sunflower oil in 2016/17 MY, with its market share of 33.1%, which is significantly higher compared with the following exporters as Russia (24%) and the EU (18.5%), the expert said.