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Crude sunflower oil import: Asian countries purchased 2,8 mln t from Ukraine in 2015

Asian sunflower oil import

Ukraine has been a leading country among the world sunflower oil manufacturers for the last few years. Hence, in 2015-2016 MY its share accounted for 54% of the world total amount of the manufactured product. Asian countries, India and China in particular, purchase a significant part of crude sunflower oil. Ukrainian Biofuel Portal, prepared a database of Asian buyers which had been importing crude sunflower oil from Ukraine in the period of 2015 – second quarter of 2016. The database reflects a credible and relevant picture of the sunflower market.

2015 saw export of more than 3,87 Mt of crude sunflower oil

According to the database of Ukrainian crude sunflower oil importres (buyers), Ukraine exported 3,87 Million tons (Mt) of crude sunflower oil in the previous year. The buyers of sunflower oil were 265 companies from 47 countries of the world. The geography of purchasers is quite extensive; the countries from all continents are on the list of the importers. 10 of these countries are Asian ones and what is more important, it is them that basically define the structure of crude sunflower oil export from Ukraine. By way of example, it was only India and China that purchased 2,01 Mt, which accounted for 52% of the overall export volume. The biggest share was purchased by India – 1,39 Mt, while China bought 0,62 Mt. Malaysia became the third leading importer, with the imported volume of 0,25 Mt of Ukrainian crude sunflower oil.

1H 2016 saw export of 2,26 Mt of crude sunflower oil

Crude sunflower oil UkraineIn the corresponding period 205 companies from 46 countries of the world imported crude sunflower oil from Ukraine. Yet 14 countries from the list are related to Asia. The leading importing countries have still been India (0,71 Mt) and China (0,3 Mt). The third place goes to the Netherlands (0,26 Mt).

The importers showed the highest activity in June 2016, when the overall export value of crude sunflower oil was 0,42 Mt. In the first quarter of 2016 MY 1,09 Mt went for export, and in the second quarter – 1,17 Mt.

Up to 95-97% of sunflower oil in China manufactured in Ukraine

Ukraine supplies the huge Chinese market with the most of sunflower oil. This market has the same colossal prospective as the Indian one. The intergovernmental agreements which have been recently reached contribute to the development of the trade between the countries and the export of crude sunflower oil to these Asian countries in particular.

Ukraine has significant crude sunflower export potential

As of 2015 MY, the share of sunflower oil accounted for 8.7% of the overall Ukrainian export. For example, app. 43,9 billion UAH accounted only for the value of the exported crude sunflower oil in the first half of 2016. Furthermore, we should understand that more than the half of the product export falls at the countries of Asia.

Importance of Asian export vector: experts’ comment

Sergei Kozlov, a leading analyst of Ukrainian Biofuel Portal comments on the situation: "Ukrainian production of sunflower oil is generally export-oriented. Only 15-20% of the product manufactured in our country covers the needs of the inner market to the full extent, while there is practically no imported sunflower oil to be found on the shelves of Ukrainian shops. The rest of it is sold abroad. Alongside with that, the main volume of the product reaches exactly the Asian countries, despite the fact that the geography of the export of sunflower oil is quite broad. For example, last year India purchased 34.6% and China bought 14.5% of the total amount of crude sunflower oil which was sold abroad".

Crude Sunflower Oil Imports

In order to be successfull on the Asian market, one needs to know current situation on it, its dynamics. Ukrainian Biofuel Portal receives inquiries from foreign countries for the purchase of sunflower oil. In the meantime, as a rule, the average volume of purchases is quite significant.

The expert goes on: "Ukrainian Biofuel Portal which I represent prepared a database on Asian importers purchasing crude sunflower oil. It is substantially to assist Ukrainian manufacturers and emerging players on the world market. The database provides all the necessary information: from the contacts of the importing companies to the import volumes and the terms of supply of every buyer. Thus, our web portal created an effective instrument for the market traders who focus on cooperation with the Asian countries".

2016/17 MY: Asian sunflower oil market prospective

The experts are unanimously sure that in the coming years Ukraine will not lose its world leadership as a producer of sunflower oil. The United States Department of Agriculture has recently improved its forecasts concerning the harvest of sunflower in Ukraine in 2016, which means an increased production of sunflower oil by Ukrainian oil-extracting factories. The American analysts forecast the increase of sales volumes of both refined and crude sunflower oil. In the previous season a serious struggle for the market outlets was developing between the exporters from Russia and Ukraine. The Ukrainian exporters won the day mostly due to the anti-Russian sanctions from the EU. As for the experts, they forecast that it is the market of the countries of Asia: China, India, Turkey and several other Asian countries that is to become the main platform of a serious struggle between Russia and Ukraine for the extension of the market potential in this sector in 2016-2017 MY.

Author: Stepan Rudnitskiy for Ukrainian Biofuel Portal 

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