In the season 2015/16 Europe could buy 1.1-1.2 million tons of sunflower oil in Ukraine which is almost 2 times more than in 2014/15 MG (614 thousand tons). It is reported by “UkrAgroConsult”.
After cancellation of fees Europe began to increase purchases of sunflower oil from Ukraine. In September and February of this season they have reached a record high – 600 thousand tons.
In addition to the tariff preferences in the current season, there are a number of factors that encourage the purchase of Ukrainian sunflower oil to Europe:
1.Deminishing of yield of sunflower and rapeseed in the EU, as a result – reduced production of edible oils (sunflower and rapeseed) and the need to increase their imports.
2.Good prices for Ukrainian sunflower oil which are held for several consecutive seasons.
3.Difference decline between the prices of sunflower, soybean and palm oil. In such circumstances European importers prefer sunflower oil.