The FINANCIAL — During 8 months of 2015/16 MY (September-April), the exports of soybean oil from Ukraine to China totaled more than 60 thsd tonnes, an increase of 2.2 times compared with the same period in 2014/15 MY, and up 8% compared with the whole previous season.
At the same time, the share of China in the total supply of soybean oil from Ukraine increased from 42% in 2014/15 MY, to 57% in the current season, according to APK-Inform.
Also, it should be noted that Ukraine started actively selling soybean oil to China in 2015, shortly after Ukrainian companies received the required approval documents for exports. When China started purchasing large-scale consignments of Ukrainian soybean oil for its broad consumer market, the country immediately topped the rating of countries-importers of the product from Ukraine. Previously, Ukraine supplied nearly half of soybean oil export volumes on the Polish market.
At the same time, Ukraine continues steadily increasing the production and export rates of soybean by-products. In particular, APK-Inform analysts forecast that in 2015/16 MY, the exports of soybean oil from the country will reach 160 thsd tonnes, up 18% compared with the previous season. Also, the potential of trade with China is still very high, because the country annually imports more than 800 thsd tonnes of high-quality edible soybean oil. According to the USDA forecast, in 2015/16 MY the imports of soybean oil to China will total 820 thsd tonnes, up 6% compared with the previous season.
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