Sunflower oil to strengthen its position on the global market

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The FINANCIAL — Market of sunflower oil is developing and it is going to face growth of production and trade in new season. Thus, USDA forecasts that sunflower oil production will increase more than 100 thsd tonnes up to 15.22 mln tones in 2015/16 MY. Exports of the product can reach 7 mln tonnes against 6.96 mln tonnes expected in 2014/15 MY.

Indian and EU are the main importers of sunflower oil and they can import 1.55 mln tonnes and 0.9 mln tonnes of the product respectively in new season. Moreover, within last years China appeared among world key buyers of sunflower oil and it can import 400 thsd tonnes of the oil in 2015/16 MY that significantly exceeds average level of last 5 year – 287 thsd tonnes, according to APK Inform.

Last season sunflower oil left the segment of price-premium oils that became one of the key factors that is attracting more and more interest to this market. Thus, as of today sunflower oil FOB prices make up 875 USD/t (Ukraine), 855 USD/t (Russia) and 820 USD/t (Argentina) while it varied 1115-1130 UDS/t depending of origin two years ago. Therefore, sunflower oil turned to be more competitive on the global market of vegetable oils that heats up the demand.

 

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